The previous analysis that I made stated that there was a correction in the 1H timeframe ETH price using the Elliot wave concept, now there is one interesting thing that (maybe) can happen if there is a reversal in the ETH price movement which can be seen from the double bottom pattern.
Let's see,
orange = EMA 20
grey = EMA 51
red = EMA 200
Let's see,
orange = EMA 20
grey = EMA 51
red = EMA 200
Note
If the pattern fails, it will form a descending triangle to continue the short-term bearish trend tren
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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.