NOT Financial advice!
. Be patient and decide your trade setup once resistance is claimed as support or support breaks from significant levels.
. Be cautious with possible traps/fake-outs, look for candle close in important areas on higher timeframes.
- If you look at the previous periods/patterns that I have marked in the chart, every time this pattern has come up, it has done the same(down to neckline/support -> small retest that fails -> breakdown; If same pattern would repeat then in the case for ethereum we will atleast see 1480-1500 -> retest the 1500-isch area -> breakdown to 1280-1300(where the CME gap is for eth) -> retest 1400-isch area -> .... | One exception would be that I have seen whereby it comes down to the neckline/support -> breakdown and then a retest of the top area wich was around the same area before it came down to the neckline/support
Goodluck!!
. Be patient and decide your trade setup once resistance is claimed as support or support breaks from significant levels.
. Be cautious with possible traps/fake-outs, look for candle close in important areas on higher timeframes.
- If you look at the previous periods/patterns that I have marked in the chart, every time this pattern has come up, it has done the same(down to neckline/support -> small retest that fails -> breakdown; If same pattern would repeat then in the case for ethereum we will atleast see 1480-1500 -> retest the 1500-isch area -> breakdown to 1280-1300(where the CME gap is for eth) -> retest 1400-isch area -> .... | One exception would be that I have seen whereby it comes down to the neckline/support -> breakdown and then a retest of the top area wich was around the same area before it came down to the neckline/support
Goodluck!!