EthereumLong
ETH/USD completing accumulation phase!
Updated
After an Expanded Flat Correction (ABC) similar to 2016, Ethereum entered an accumulative period that is now in its final stages.
The uptrend during that cycle was extremely parabolic.
Personally, I don't believe in the repetition of the previous magnitude but rather in the direction of the movement. Therefore, disregard price levels in this post.
Be cautious when analyzing fractals, as there are more efficient data and indicators to capture a possible exhaustion of the movement that may start soon.
The uptrend during that cycle was extremely parabolic.
Personally, I don't believe in the repetition of the previous magnitude but rather in the direction of the movement. Therefore, disregard price levels in this post.
Be cautious when analyzing fractals, as there are more efficient data and indicators to capture a possible exhaustion of the movement that may start soon.
Note
A long-term baseline (support) will always run the risk of being readjusted. Therefore, that's the intention behind the update.
The accumulation triangle following the last drop of ETH/USD showed signs of elongation.
Note
The point of escape is getting closer.
Note
The idea of the triangle persists.
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.