EthereumEducation
Finding Ranging Market Before Happening! Part 3
Question: I'm having a problem with finding the MC candle. What should I do?
Answer:
There are 3 distinct signs for us to know for a fact that we are in a ranging market which has been started from shaping an MC candle:
1. Inability for the price to make a new stBoS (seeing wBoS or no BoS at all).
2. For the second time, seeing a cycle of Pump&Dump happening.
3. Price cross and close both EMAs in the opposite direction of the previous minor trend.
Whenever we observe any of these three signs, it indicates that we are already in a ranging market. We should look to the left to identify our MC candle, which is usually the very first Pump & Dump that occurred recently.
For Ethereum to continue its uptrend, the Pump & Dump cycle must end. The price should not drop again in the ranging area.
Answer:
There are 3 distinct signs for us to know for a fact that we are in a ranging market which has been started from shaping an MC candle:
1. Inability for the price to make a new stBoS (seeing wBoS or no BoS at all).
2. For the second time, seeing a cycle of Pump&Dump happening.
3. Price cross and close both EMAs in the opposite direction of the previous minor trend.
Whenever we observe any of these three signs, it indicates that we are already in a ranging market. We should look to the left to identify our MC candle, which is usually the very first Pump & Dump that occurred recently.
For Ethereum to continue its uptrend, the Pump & Dump cycle must end. The price should not drop again in the ranging area.
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