Ethereum BOTTOMED? Ascending triangle? BUY THE DIP
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Ethereum has seen a pretty steep pullback from its recent swing high to the 240s.
We have very strong, bullish wicks on the daily timeframe forming now a
second reversal candlestick.
The 4h chart bottomed prematurely on a 9-Buy (TD-Sequential) and is sitting on green count currently.
Also we have the possibilty for an ascending triangle on the smaller timeframes,
which would coincide with the strong reversal candlesticks on the daily.
It seems so far like Ethereum is leading Bitcoin in bullishness and is curently
down more than 2 percent less than Bitcoin. Also bulls seem to be more
eager in buying the lows on Ethereum than they are on Bitcoin.
Although Ethereum is looking more bullish, a bull move without Bitcoin also
gaining significantly in value is not what I would look for and would have me concerned.
I would like to see Bitcoin see dip buying, along with ETH also gaining momentum to the upside.
I drew some key levels on this chart, on which I had and still have my eyes if we do see further
drops in the price. I would love Ethereum to move to 230ish, where not only strong
structural support is sitting, but where also the 0.382 fibonacci is currently at.
We have to wait and see though wether that will happen.
Until then, follow me on YouTube if you don't want to miss out on further information:
@ Enlightened Trading
and subscribe to my instagram:
@enlightened_trading_
for some funny memes and daily updates!
Cheers,
Konrad
definitely leave a like and share this post to help it spread!
Ethereum has seen a pretty steep pullback from its recent swing high to the 240s.
We have very strong, bullish wicks on the daily timeframe forming now a
second reversal candlestick.
The 4h chart bottomed prematurely on a 9-Buy (TD-Sequential) and is sitting on green count currently.
Also we have the possibilty for an ascending triangle on the smaller timeframes,
which would coincide with the strong reversal candlesticks on the daily.
It seems so far like Ethereum is leading Bitcoin in bullishness and is curently
down more than 2 percent less than Bitcoin. Also bulls seem to be more
eager in buying the lows on Ethereum than they are on Bitcoin.
Although Ethereum is looking more bullish, a bull move without Bitcoin also
gaining significantly in value is not what I would look for and would have me concerned.
I would like to see Bitcoin see dip buying, along with ETH also gaining momentum to the upside.
I drew some key levels on this chart, on which I had and still have my eyes if we do see further
drops in the price. I would love Ethereum to move to 230ish, where not only strong
structural support is sitting, but where also the 0.382 fibonacci is currently at.
We have to wait and see though wether that will happen.
Until then, follow me on YouTube if you don't want to miss out on further information:
@ Enlightened Trading
and subscribe to my instagram:
@enlightened_trading_
for some funny memes and daily updates!
Cheers,
Konrad
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