A short term downtrend and a possible upside after.
Updated
Hi I am just trying this publish idea for the first time.
I would like to request some pointers from others on my analysis.
Yellow trend line was from the recent drops of Dec 2021-Jan 2022.
Blue trend line is the new trend from Feb 2022.
I used EMA 224 448 896 days to find the support/resist points
I also used Ichimoku default setting for the cloud to back the resistance line.
There seems a triangle shaped price consolidation and a possible upside afterwards as ETH price is being supported at 2 year trading average.
I have a very small position around ETH $2750 (actual stock was an ETHY.TO ETF at $5.92)
Consideration was to sell around $3000 but I wanted to wait and see how it all plays out as this is a small position.
Any pointers on how can better analyze the current situation?
I would like to request some pointers from others on my analysis.
Yellow trend line was from the recent drops of Dec 2021-Jan 2022.
Blue trend line is the new trend from Feb 2022.
I used EMA 224 448 896 days to find the support/resist points
I also used Ichimoku default setting for the cloud to back the resistance line.
There seems a triangle shaped price consolidation and a possible upside afterwards as ETH price is being supported at 2 year trading average.
I have a very small position around ETH $2750 (actual stock was an ETHY.TO ETF at $5.92)
Consideration was to sell around $3000 but I wanted to wait and see how it all plays out as this is a small position.
Any pointers on how can better analyze the current situation?
Note
Since the post, there has been a Presidential Order regarding Crypto. Maybe this is a positive for the crypto traders as it will bring market/ETF money into crypto space. ETH price so far has been following the prediction. =)
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