After yesterday's strong buyer's momentum that broke 0.03 on Kraken but was denied by Polo sellers, we are gonna have another try at 0.03. The reasons are written in chart:
Quick denial of dump, downtrend didn't even form.
Inverse H&S
RSI holding support, quickly rising with higher lows and higher highs
Hi, yesterday we had an attempt at major turning price level 0.03 and we broke it on Kraken. On Poloniex, huge sell walls (15000 ether in one order, etc) appeared and scared the buyers who stopped at 0.02995, which is rather sad.
We got stopped out of our trade (and partly exited manually since it was clear buyers are there, just not willing to finish this ...
The green trend lines maybe initiate anotherbig bull move, obviously we are in a big trend channel up (pink one), if we leave this pink trend channel it is fully decided for weeks if not months.
Short term is bullish right now but i would rather expect another denial by the upfront red channel lines. If it does so, the bullish flag scenario is on hold until it breakes either the top or the bottom side of that channel.
I'm still holding half of my longs and keep a close eye on the golden lines, since I think a breakout top is more likely in the next few days.
The price is still contained in a descending channel (red). 4H tweezer top confirmation (marked with pink rectangle) suggests that the ascending bull channel (green) will most likely be broken in the coming hours. Closing below 0.0088 means the downtrend continuation. Should the price close anywhere above 0.0097, this would signal a new emerging uptrend.
