ETH/USD: bullish flag, price action and divergence
Ethereum forming a bullish flag in that key zone of $2,750 USD approx. i see that price action show us a buy signal in that zone and RSI forming a tripple bottom divergence and combining with price action. So, Ethereum can to go up.
But more interesting if that looking in Daily timeframe, we forming a bearish channel in H4 timeframe that we can to see better. But we're in the point that as we formed before ABC pattern in weekly timeframe, but in Daily timframe I look a bearish elliot wave cycle that came from November 2021.
And now, this it's what I mean, Ethereum forming this bullish channel and the points required are confirmed that we're into this pattern, what it's mean a bullish reversal. So, in theory, if Ethereum break up this pattern, We count to the phase #2 of this Elliot Wave Analysis in my first screenshot here.
Remember, Elliot Wave Analysis are track to know what happen in the market in long, medium as short term. But apply the technical analysis, I wil take my decision how the market it's moving
But more interesting if that looking in Daily timeframe, we forming a bearish channel in H4 timeframe that we can to see better. But we're in the point that as we formed before ABC pattern in weekly timeframe, but in Daily timframe I look a bearish elliot wave cycle that came from November 2021.
And now, this it's what I mean, Ethereum forming this bullish channel and the points required are confirmed that we're into this pattern, what it's mean a bullish reversal. So, in theory, if Ethereum break up this pattern, We count to the phase #2 of this Elliot Wave Analysis in my first screenshot here.
Remember, Elliot Wave Analysis are track to know what happen in the market in long, medium as short term. But apply the technical analysis, I wil take my decision how the market it's moving
Trade closed: stop reached:
Ethereum continue drop!!!
