I'm finding myself gravitating more towards this crypto over Bitcoin, and that's mainly due to Ethereum's price. I'll explain my chart along with what I'm anticipating.
What am I anticipating?
Price is currently breaking a key lower-high on the weekly, which happens to also be the same area as the monthly (key) lower-high. Once that bull candle closes pass those levels at the end of today then the weekly turns bullish.
Normally, price would run into an old key area in order for the retracement phase to begin. I'm looking for bull continuation to spike the A.T.H. and $5000 price point followed by a correction right into my area of interest (A.O.I.).
Do I have a "special" price within the A.O.I.?
I actually do! $2400.
In conclusion, I'm merely a spectator until the bears enter the market to drive price down, and if that doesn't happen due to bull momentum, I'll readjust.
M - 🐻 W - 🐻 *If today's candle closes above the key LH, it turns 🐂* D - 🐂 H4 - 🐂
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Weekly candle closed above the key LH. I'll now wait to see a HL broken on the H4, which will then tell me that the retracement phase has more thank likely begun.
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ETH's price is on the sell-side. Daily.
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Looks as if price is forming a "sweep of liquidity" to head to the downside. H4 perspective. 👀
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Yesterday's bear movement was a sweep of equal highs.
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Everything I've been talking about is currently happening with this crypto. It's melting! I'm just waiting for it to reach my A.O.I. and I'll react.
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I'm looking for price to come back around the range below 👀👇🏿
Retracing process.
Range - $3300 - $3475
Sweet Spot - $3388
We all shall see..
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This bear price action can be the start of the new bear leg to head further down. If that were to take place, I would look for it to reach my area of interest (A.O.I.).
Let's see how this plays out.
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Price is hovering right above the beginning of my A.O.I. 👀