Updated

Eth Week nr. 16

Will Eth live or die? The yearly VWAP will decide.
Right now Eth is testing the Y-vwap for the second time, in the past the vwap has been major resistance and support. Trend will be decided by a daily close above/below it.

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Proven significance of the vwap

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Price is at the downward trend line.
Eth recently bounced of the Daily S/R level combined with the support trendline.

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Albeit the resistance is STRONG and threefold, there is no reason to assume this uptrend has ended. So far we are only making Higher lows and Higher highs.

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As it stands now we can consider 173/174 as resistance and 150/152 as support. Until either level breaks these are short/long zones. Will eleborate further on lower time frame.

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Keep it as resistance (4h closes below) = short

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Long setup, ONLY if it flips the D and Vwap. This means close above on the 1h/4h another candle above with a wick down to a region and a close up. The flip is necessarry because there are bids in the 180 region, which could make price fake out.

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Orderflow and heatmaps suggest we break up here

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We are in an uptrend

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Tagging my levels to the dollar.

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This level took a lot of strenght and volume for the bulls to break through. Has been resistance for six times, almost certain bulls will defend this level since it took this much effort to break it. A long in that area is just common sense, we are dealing with a S/R level and flip of yearly VWAP.

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Open drive principle

Trade active

Activated part of my limits on the wick.

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Explenation

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In a long of previous POC, expect buyers to defend.

DemKos

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DemKos