ETH/USD Wyckoff Schematic vol.2
Updated
After testing the edge and making the bounce back to the top this analysis is favouring the bullish scenario.
Volumes are confirmative and a Breakout with a successful pullback will definitely add to the Long scenario.
Volumes are confirmative and a Breakout with a successful pullback will definitely add to the Long scenario.
Note
If we accept ETH/BTC as:Then the long scenario might gain some points as combining that we might be the Phase D of a bullish move that will strengthen ETH over BTC, we count that the ETH/USD will also bloom.
And the reason is that this rate rises if:
1)ETH/USD rises faster than the BTC/USD.
2)BTC/USD falls faster than the ETH/USD.
3)ETH/USD rises and BTC/USD falls.
Viz, if we take the ETH/BTC as an Accumulative Schematic, we conclude that we are about to see a rise on ETH/USD.
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