What's up guys! On the left is the daily timeframe for ETH Hodlers it's quite obvious that price is in an uptrend after making a double bottom back in July and august indicated by the red arrows As bulls take control while making that area a major demand area , price starts to form a channel (Which is shown in Blue) From my perspective , price makes an All Time High (ATH) and the bulls will still push it up further until it enters an overbought (which could be 4800 - 5500) area before it makes a huge correction and buyers turn sellers and takes their profits Note that a break of the 4000 newly formed support area can be broken to continue to validate the channel and bring price to a more attractive level
On the right is the 1H timeframe for the ETH scalpers lol Price is in a correction stage and forms a descending triangle after bulls pushed price to a new ATH Classic MACD divergence present , waiting on the break with momentum candles and probably a cross of the moving averages Only if this occurs then price will fit my buy setup , what do you guys think ?