botje11

ETH in Danger Zone, H&S and Triangle, Part 7

BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
ETH' just made a small drop and pump half hour ago. On the left we can see the daily volume increasing again compared to previous days, but what this candle does not show, is that so far half of that candle is buying volume . Which is not normal for a bearish version. We broke the neckline a week ago with some volume increase, but the increase actually happened with the second candle and not during the break of the neckline. That is not very odd but also not normal. With the move we did half hour ago, volume drop and just as much volume up again as well, also makes me think something else might be going on.

It's all still a lot of guessing, but only thing i can say is, that if we move sideways for a few more days, making small and slow drops (like the blue line), but staying above the 100ish AND keep testing that resistance line, we could see a counter move happen instead of a big drop. So i't important we see a few tests of that resistance line, otherwise this theory is not valid and the most likely direction will be down.



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