TA:
ETH back inside 2D KC with movement towards middle KC.
ETH 2D KC bottom and BB bottom are showing the lower range today, likely $1,290 to $1,240, which lines up with the 2D linear regression channel.
2D linear regression channel showing reasonable high today of $1,350.
2D linear regression change forecast showing likely $1,420 high obtainable before current 2D close as long as current upward momentum continues through the weekend.
CCI showing ETH daily and 12H are now above -100 inside the CCI channel. However, 2D+ CCI still below -100 which could indicate more downward movement next week.
TTM Sqz ETH 2D is currently showing two bars of upward momentum
MACD ETH 2D is currently showing upward momentium
DB Vix Fix showing strong local bottom
DB Scored KCBB%D, TTM SQZ, MACD, STOCH, VF Combo showing ETH 2D buy a score of 5 and sell score of zero. A net score of 5, which is very bullish.
Comment:
The TTM Squeeze is now showing on the 12H timeframe, which the upper KC/BB channel is showing $1,450 and the lower KC/BB channel is showing $1,240.
Pressure continues to build.
Pressure continues to build.
Comment:
ETH 12H pressure is starting to release upward. If the pressure is released within the next 24 hours, expect the price to likely hit the $1,420 to $1,450 range, which is the current ETH 12H KC/BB higher bands.
In other words, the TTM Squeeze acts like a compressed spring that can be released in either direction depending if the release point. Typically when released, the price will breakout to the outer bands of the KC/BB.
The squeeze on the multiple timeframe do show a possible upper release in the $1,410 to $1,420 range. However, they also show a possible downward release of $1,250.
Depending on your entry point for the long, the risk is now very high due to the extended TTM Squeeze caused by very tight price action. I'd recommend moving the stop loss to break even.
3D and 2D are still projecting long. However, the tight price action has weakened the Daily down to a slightly bullish score. We need a previous of release of the squeeze to give some additional indication of market direction.