Despite a second consecutive daily closing above the clouds (around 3'500),(high @ 3632), the ETHUSD is still showing some uncertainty about further development as you
can see the recent and current price action on this daily chart.
Indeed, as I already mentioned yesterday, we still need to see, a "real" breakout confirmation, which, for the time being, it is not the case yet !!!
Therefore, once again, today's closing might perhaps gives more clues about further direction and if the breakout confirmation does not occur soon, the bears
will regain power to reverse the ongoing upside price action.
Last but not least, the validation of the clouds breakout will be given by the Lagging span price action too !!!
CONCLUSION :
Monitor closely intraday shorter time frames as a failure to hold above 3'500 should be seen as a warning signal for a reversal !!!
Ironman8848
can see the recent and current price action on this daily chart.
Indeed, as I already mentioned yesterday, we still need to see, a "real" breakout confirmation, which, for the time being, it is not the case yet !!!
Therefore, once again, today's closing might perhaps gives more clues about further direction and if the breakout confirmation does not occur soon, the bears
will regain power to reverse the ongoing upside price action.
Last but not least, the validation of the clouds breakout will be given by the Lagging span price action too !!!
CONCLUSION :
Monitor closely intraday shorter time frames as a failure to hold above 3'500 should be seen as a warning signal for a reversal !!!
Ironman8848
