Welcome to this update-analysis about Ethereum, we are looking at the more local 6-hour timeframe perspective and this analysis is coherently following up the fractal-analysis I developed with the fractal-situation on the daily timeframe, if you did not see this analysis already I highly recommend it to watch, therefore I discovered some significant signs on the 6-hour timeframe that are worthwhile to look at adding into the full-depth-overview.
As when looking at my chart we can watch there that Ethereum is actually clearly above the ascending-channel it formed in phase A and is building this second more local ascending-channel above the upper-boundary now that is also a confirmation of the breakout when this zone holds sustainably and Ethereum continues with the wave-count within this phase B to complete it within the schedule which will happen when the next waves C, D and E establish as it is marked in my chart with Ethereum finally bouncing within this back-up-cluster marked in blue with the 35-EMA in green and the 45-EMA in black also supporting this zone, when this happens and Ethereum manages to bounce this will lie ground for the next phase C to develop when Ethereum moves above the upper boundary of the local ascending-channel and closes there with a decisive solid price-action, this will indicate further continuation and the emerging of phase C.
In this manner, thank you for watching the analysis, have a good start into the New Year 2021, many thanks for all people supporting, all the best! "The high destiny of the market is to explicate rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
It's happening a little bit sooner I think, or am I wrong? Still a beginner here ;-)
VincePrince
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Post your comments, questions, and ideas about ETHEREUM here.
galdamezhenry
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@VincePrince, Loving the analysis man. SNX might be one to look into. Let me know your thought or maybe some analysis on it. I think its about to take off based on the trend.