ETHUSD: $3500 on Table With Potential for $4000 Afterward
Hi Everyone! We still have upward pressure in the 3-Day time frame (to be posted shortly). The Red RSI is currently above Level 50 with the White Energy very high in the 5-Day as well. We have 3-Days and 12-Hours remaining in the current 5-Day candle. This means upward pressure can remain until the White Energy comes back down to or near Level 52. Why Level 52 and not 50? Well, the White Energy is currently at Level 104. Half of 104 equals 52.
Comment:
UPDATE:
I'll plan on providing a video publication update soon for Ethereum. Here is our current Wyckoff Distribution Period (schematic):
I'll plan on providing a video publication update soon for Ethereum. Here is our current Wyckoff Distribution Period (schematic):
3-Day time frame (bottom right corner) still has quite a bit of upward pressure remaining.
Weekly time frame also needs the Blue LSMA to rise above Level 70 to increase odds for price action to rise up to the White/Aqua UPPER B-Bands in the Weekly Time Frame (top right of center). So, we may not see a serious move up until the next Weekly Candle. However, if we do manage to run up to the White/Aqua UPPER B-Bands in the Weekly time frame during the "current" candle, we would be over extended up and we should expect the price action to fall back down to within proximity of the B-Band Basis.