Update from previous idea:
ETH is still on a tear! previously we spoke about it looking topped out and not to mention the CME gap which is at 4550, we have continued to go up since Friday. luckily my analysis has been on point with support levels, this bottom grey line has been key support before the last leg up and we have just came down and found support again at this trend line.
currently looking to break back above the upwards channel, looking for a bullish retest before continuing EVENTUALLY to my red line of resistance which keeps getting crazier and further away but we will hit it and I guarantee it will be resistance.
I am hoping price can stay bullish but I would also be extremely happy for a short term retrace, hit the CME find support at my blue lines (4453,4380) before moving up impulsively to my red line. it's a tough call what is more likely I have had a bearish short term bias for a few days now I think a retrace is well overdue now and the more we constantly move up the bigger the retrace will be.
we might break higher hit the red line before having a big volatile crash down to my blue lines then find strong support and have an amazing last month of 2021.
ETH is still on a tear! previously we spoke about it looking topped out and not to mention the CME gap which is at 4550, we have continued to go up since Friday. luckily my analysis has been on point with support levels, this bottom grey line has been key support before the last leg up and we have just came down and found support again at this trend line.
currently looking to break back above the upwards channel, looking for a bullish retest before continuing EVENTUALLY to my red line of resistance which keeps getting crazier and further away but we will hit it and I guarantee it will be resistance.
I am hoping price can stay bullish but I would also be extremely happy for a short term retrace, hit the CME find support at my blue lines (4453,4380) before moving up impulsively to my red line. it's a tough call what is more likely I have had a bearish short term bias for a few days now I think a retrace is well overdue now and the more we constantly move up the bigger the retrace will be.
we might break higher hit the red line before having a big volatile crash down to my blue lines then find strong support and have an amazing last month of 2021.
