ETH - Sentiment and Structure
Updated
At a time last year sentiment felt very similar after a large correction, many calling for lower prices, yet we went up. We have consolidated for long enough at these prices.
I used the "Bars Pattern" tool to take the part of the chart highlighted in the circle and overlay it with the recent prices action. Obviously, this is just a generalized idea of where price may go.
I used the "Bars Pattern" tool to take the part of the chart highlighted in the circle and overlay it with the recent prices action. Obviously, this is just a generalized idea of where price may go.
Note
The September 2020 correction from $500 to $300 -> a 40% drop.May 2021 correction from $4400 to $1700 -> a 60% drop.
Although it is a much larger correction, I wanted to see lower prices sooner, the consolidation feels like bull market continuation.
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