ETHUSD pair recent development running in the range between 8 days and 30 days MA. Daily chart small step drop in recent week, trading volume decreased and small.(price drop + volume drop)
Pattern developed: Maybe it will be repeated a 2-ladder Falling wedge pattern.
A higher high, and lower high developed after first 2-ladder falling wedge. Said: left hand side first purple channel Chart. Key support is around 1825-1840.(The lower lime line)
The 2nd Purple channel might be the key resistance of the second 2-ladder falling wedge. Key support is around 1873-1880. (The upper lime line)
Personal record only, not a financial advise.
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Continue Rejection by the pressure line(14 hours MA)
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Kill down to buy. Maybe will kill down again, it is back to original Range Structure.
Red Zone is a very strong resistance. Blue Zone is a very strong support.
Professional Buyers might try to kill down again to test Small green box zone, even if drop to test 1760 to 1800(Blue zone). Maybe it might be a very good Long area.
@BMYWin, 26th July, 2023: "Professional Buyers might try to kill down again to test Small green box zone" We buy and take profit.
BMYWin
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@BMYWin, Breakup the down trend. Challenge previous resistance.
BMYWin
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@BMYWin, It challenged the previous resistance level (purple box). But a jest temp and small volume test. Rejected by 20D and 50D EMA. 20 D EMA still greater than 50 D EMA, but both trend are going down. Weak bullish) Let's see test low again(1820 to 1800) which is around 125 Day EMA. We Grid Long again at around 100 D EMA, and plan to go long more if test 125 D and 200 D MA.
BMYWin
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@BMYWin, Profit taking. Counter 8 day MA resistance.
BMYWin
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@BMYWin, Side way walking between Orange and Blue Line Region. Orange: 8 day 20 day 50 days MA Blue: 100 days 110 days MA
Hit and Run Long Position Profit taking into wallet.