Ethereum 2.0 is coming, that we have been continually hearing for a while , This isn't a new event !! I know how much important is this event 🔔( Mainnet Merge ; at 15 Sep 2022) 🔔 , which can really effect and determine the crypto space future ! but we also should consider some others macro economy bias is more effective than crypto space events right know !
The decision to buy a asset based on rumors, and then sell it when news breaks, may sound like a precarious plan, but it can also be a clever one under the right circumstances. "Buy the rumor, sell the news" happens in most markets, particularly financial markets. Traders sometimes turn this idea into a trading strategy that draws upon what they believe will happen in the future. Suppose a trader expects that upcoming economic report for Ethereum 2.0 or recent world events will alter the price of ETH asset in a given way. When the trader buys an asset-based on this instinct, that is the rumor phase of the strategy. Once the event passes or the report is released, the news has been made public. The trader then dumps their positions, and the market moves.
Technical point of view:
As we can also see ETHUSDT has been declining and fluctuating in a supper big Descending Broadening Wedge Pattern which seems as a supper bullish pattern in the long term! , ,
and recently takeoverd an important support zone above POC (power of control) line, so it shows that bulls are more powerful now. but it should it should have at least another bearish leg and can fall again before starting any massive rally in my opinion !
although if we zoom in a little bit , we can see ETHUSDT has been rising in a bearish falling wedge
, also some negative divergences have revealed recently and can suppress the the rising but it depends to bulls power which can raise price to fill the higher VG (Volume gap) Zone or even test the higher Resistance zone -($2336- 2.4k)- in the short term , so if maintain the current support zone then can even tests the higher resistance zone in the mid-term , But otherwise and more likely by the end of the year at least I expect another bearish leg for Ethereum!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE! -------------------------------------------------------------------------------------------------------------------- 👉This analysis is my personal opinion ,not a financial advice ,so do your own research. 💚 if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
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' bearish rising wedge
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🔰Ethereum has already lost the support zone($1771-$1833 , I expect at least a pullback to broken zone , and if not be able to retake over the zone ,it can go all the way down to lower support zone $1111-$1177