Ethereum, Continues With Flag-Development, Next Perspectives!
Hello Traders Investors And Community,
this is an additional update-analysis following-up the former analysis in which we are now looking at the more global 4-hour timeframe perspective, in the former analysis I already mentioned the importance of the descending-channel and the bear-flag within the channel forming that, now in this purpose, I detected further meaningful signs on the 4-hour timeframe perspective necessary to elevate within the upcoming times. Currently, the bearish scenarios should not be underestimated especially when this main formation completes this can lead to further increased volatilities important to be prepared on, therefore I detected all the important levels and likely destinies we should consider.
As when looking at my chart now we can watch there how Ethereum has now completed the wave-count within the bear-flag-formation and since then showed up with serious bearishness moving to the downside and recently below the point-of-control within the volume profile which is a meaningful resistance zone. When Ethereum now holds this resistance and continues with the bearishness the whole bear-flag-formation will complete when Ethereum closes below the lower-boundary as is shown in my chart, such a breakout will complete the whole formation and lie ground for the major wave C to develop to the downside as it is shown, this wave C will protract and move on till there is support found in which the whole dynamics can stabilize and back-up again, this is likely to happen within the blue support-zone when Ethereum reaches out these zones it has to be elevated if it manages to back-up or continue with bearishness, in any case, the bearish scenarios should not be kept by the side. For now, it is important to be prepared on the formation to complete to not get overwhelmed when it happens, it will be an interesting and important journey further.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the market.
this is an additional update-analysis following-up the former analysis in which we are now looking at the more global 4-hour timeframe perspective, in the former analysis I already mentioned the importance of the descending-channel and the bear-flag within the channel forming that, now in this purpose, I detected further meaningful signs on the 4-hour timeframe perspective necessary to elevate within the upcoming times. Currently, the bearish scenarios should not be underestimated especially when this main formation completes this can lead to further increased volatilities important to be prepared on, therefore I detected all the important levels and likely destinies we should consider.
As when looking at my chart now we can watch there how Ethereum has now completed the wave-count within the bear-flag-formation and since then showed up with serious bearishness moving to the downside and recently below the point-of-control within the volume profile which is a meaningful resistance zone. When Ethereum now holds this resistance and continues with the bearishness the whole bear-flag-formation will complete when Ethereum closes below the lower-boundary as is shown in my chart, such a breakout will complete the whole formation and lie ground for the major wave C to develop to the downside as it is shown, this wave C will protract and move on till there is support found in which the whole dynamics can stabilize and back-up again, this is likely to happen within the blue support-zone when Ethereum reaches out these zones it has to be elevated if it manages to back-up or continue with bearishness, in any case, the bearish scenarios should not be kept by the side. For now, it is important to be prepared on the formation to complete to not get overwhelmed when it happens, it will be an interesting and important journey further.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the market.
Comment:
Local timeframe analysis on the situation:
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