Today's picture shows us that ether is following bitcoin, a descending triangle was formed with an exit to the top, which worked well, however, we could not gain a foothold above the resistance level, so we will most likely go to retest the support level, but if there are small volumes to buy - let's go even lower and return to the sideways range.
These two have a very strong connection. Chart is IDENTICAL in different cycles. Very strange too see this happening. My TARGET TOP for $ETH this cycle is between 22,000 and 25,000 in January 2022!
The patterns below speak for themselves....
Big sellout, shxt happens. I could see this play out a few ways...
1. Daily close > 3500, likely triggers green candle for tomorrow (push to half daily)
2. Daily close < 3300, likely triggers green candle for tomorrow (drop to prior low)
3. Daily close 3300-3500, likely triggers red candle for tomorrow
Also, as a thanks for reaching 100 followers I plan to hold...
Although the bulls have won some ground, we expect the course to drop primarily into the blue box. There is a 42% chance that the price will turn around and surge again in the yellow box.
Setting up a chart for the next couple of weeks, I believe we are in the process of currently forming a falling wedge pattern on the daily. We have strong support in the $3300 - $3000 range. A lot of buying pressure is sitting down there, just waiting.
On-chain metrics have been showing strong whale purchases over the last couple of months, with...
I am following the price channel that Ethereum has been in from the start of the bull market move in 2020. If we stay in the price channel I am bullish if we break under and out of it I am bearish. If we hit the top of the channel for year end we can go to $20,000 Ethereum like some predict. I will follow this every week and keep you updated.
Nearly six weeks after the implementation of the highly hyped Ethereum London upgrade, a colossal amount of ETH has been burned on the network. Data from Watchtheburn confirmed this with figures, as it indicated that since the activation of London Hard Fork on August 5, over 297,000 ETH, worth more than $1 billion, had been burned on the network. The London Hard...
ETHUSD, 1h, Buy
Entry - 3500.00
Stop Loss - 3475.00 (25 pips)
Take Profit - 3700.00 (200 pips)
the descending trend was broken.. looks like beginn to go up.. lets see what happen..keep sl and tp always!!!!
DId not go exactly as imagined, what matters is that the key price zones lined up as retests/confirmations.
I try to imagine possible patterns that may end up appearing later on.
Helps me stay alert of potential swings points.
Try and keep note of how often you come across this price action.
Can be found in any time frame of any chart, from Micro to macro.
Ethereum made a run for higher levels, but appears to be facing resistance at the 0.618 Fibonacci level. This coincides with our technical level at $3646. We are finding support at $3461 at the moment, as confirmed by a green triangle on the KRI. If this does not hold, we should find further support at $3341, but after that, we will find ourselves back at the...
The level 3488 and 3520 is now a crucial support. The short trend up was blocked at 3677.
For me there are many signs of weakness, its can stop for the moment the bullish trend :
• Support/resistance crucial : 3488
• Tenken under kijun
• Chenkou has left the bullish canal
I think we will enter a range phase