Ethereum Long Term Reversal Analysis - We have some work to do
Updated
Quick thoughts after lengthy review of where we are
* Selling has been constant, mighty - do not expect a turn around and re-testing of all time highs anytime soom
* We need some reversal pattern to get traders into a more bullish stance
* Right now we are doing a mini up-trend to capture easy money - question is, do we go to $1,700, $1,800? Top I see here is $2,100 (above $2,100, and buy like crazy)
* Expect sideways, potentially down remainder of 2022
- One option we could form is an ascending triangle
- Another option is an inverse head and shoulders, with 2 options drawn for shorter reversal (more short term bullish in blue), or longer reversal, (less short term bullish, in purple)
Personally I am expecting a nice little run into late June, early August, will selling pressure into later August, and through Q3.
Best of luck trading
* Selling has been constant, mighty - do not expect a turn around and re-testing of all time highs anytime soom
* We need some reversal pattern to get traders into a more bullish stance
* Right now we are doing a mini up-trend to capture easy money - question is, do we go to $1,700, $1,800? Top I see here is $2,100 (above $2,100, and buy like crazy)
* Expect sideways, potentially down remainder of 2022
- One option we could form is an ascending triangle
- Another option is an inverse head and shoulders, with 2 options drawn for shorter reversal (more short term bullish in blue), or longer reversal, (less short term bullish, in purple)
Personally I am expecting a nice little run into late June, early August, will selling pressure into later August, and through Q3.
Best of luck trading
Note
i mean, i am the best, what can i say?
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.