Hello, Traders!
During the month ETH went through a phase of rapid growth from $715 to $1,699.
On the TD Sequential daily timeframe, there is now a green candle at 8, which signals the end of the local uptrend.
On February 8, the ether ETF is launching. Many market participants are bullish on the upside. But this event may play a reverse role and sellers will enter the market.
The cryptocurrency market is strongly overextended and the moment of correction is ripe.
Mid-term purchases can be looked for in the buying liquidity buffer between $828-1050 near which the MA100 on the daily timeframe is located.
Keep in mind, that the main trend line is now below the level of $828
During the month ETH went through a phase of rapid growth from $715 to $1,699.
On the TD Sequential daily timeframe, there is now a green candle at 8, which signals the end of the local uptrend.
On February 8, the ether ETF is launching. Many market participants are bullish on the upside. But this event may play a reverse role and sellers will enter the market.
The cryptocurrency market is strongly overextended and the moment of correction is ripe.
Mid-term purchases can be looked for in the buying liquidity buffer between $828-1050 near which the MA100 on the daily timeframe is located.
Keep in mind, that the main trend line is now below the level of $828
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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.
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.