ETH Failing Bull Flag Breakouts, Part 2
Just a follow up on the previous analysis. It seems that so far ETH is trying to follow that blue line on the left. The green zone around 230/232 has held and therefore the higher low option is in play. However, as we can see on the left, we got a small rejection once again from that thick blue line once again. Now this also doesn't mean much, but i do think that 236ish has to hold from now on. Think the 236 might be a key level on the short term. If it holds, we should see the thick blue line break coming day or 2. If the 236ish breaks, i think we could drop back to the 232 zone.
Bitcoin is also still in the sideways zone, making meaningless moves, so no real clues to find there. Maybe ETH might show the way instead of Bitcoin. If ETH would make a strong bullish move, breaking that 240 and pumping above 246, we should see more bullish movement for the coming week. Any small moves, could still just be correctional/sideways movement inside the big consolidation ETH and BTC are in.
So, think 236 is important and 240 on the upside, both short term level of course. Where i think above 236 bulls have the upper hand, at least a slightly. Other levels are mentioned in my previous analysis.
Don't forget to like if you appreciate this :)
Previous analysis:
Bitcoin is also still in the sideways zone, making meaningless moves, so no real clues to find there. Maybe ETH might show the way instead of Bitcoin. If ETH would make a strong bullish move, breaking that 240 and pumping above 246, we should see more bullish movement for the coming week. Any small moves, could still just be correctional/sideways movement inside the big consolidation ETH and BTC are in.
So, think 236 is important and 240 on the upside, both short term level of course. Where i think above 236 bulls have the upper hand, at least a slightly. Other levels are mentioned in my previous analysis.
Don't forget to like if you appreciate this :)
Previous analysis:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.