~It's important to understand what part of the cycle your coin/trade is in.
~Ether looks like it has bottom out at 317.
~ Sep 6th-Sep 19th ether has gained almost 25%.
~From my Analysis whenever its making new swing highs in this zone it tends to pullback.
~This may be due to the fact market makers and whales are trying to scare out the traders who don't know what zone we are in and what is going on fractals.
~Recently we made new swing highs in this zone at 394. Not only is that a new swing high for this zone but it is also the peak of this mini valley.
~Theres a possibility Ether will come back down to its support at 356.
~I personally don't believe it will go lower then that due to the trend line I have drawn marked on the swing low of the uptrend. It has been respecting this trend level very well.
~To summarize my thoughts I am not surprised of this slight pullback and I am still bullish these next few weeks.Theres always the possibility of ETH breaking though the trend line and coming back down to a lower support but only time will tell.
~Not Financial advice trade at your own risk and perform your own analysis Bless up
~Ether looks like it has bottom out at 317.
~ Sep 6th-Sep 19th ether has gained almost 25%.
~From my Analysis whenever its making new swing highs in this zone it tends to pullback.
~This may be due to the fact market makers and whales are trying to scare out the traders who don't know what zone we are in and what is going on fractals.
~Recently we made new swing highs in this zone at 394. Not only is that a new swing high for this zone but it is also the peak of this mini valley.
~Theres a possibility Ether will come back down to its support at 356.
~I personally don't believe it will go lower then that due to the trend line I have drawn marked on the swing low of the uptrend. It has been respecting this trend level very well.
~To summarize my thoughts I am not surprised of this slight pullback and I am still bullish these next few weeks.Theres always the possibility of ETH breaking though the trend line and coming back down to a lower support but only time will tell.
~Not Financial advice trade at your own risk and perform your own analysis Bless up