-Although we have broken daily downtrend, market sentiment is still overall bearish
-Fear & Greed Index sitting around 30 (fear)
-Fractal taken from approx 27/12/21 - 28/05/22
-Price difference between high ($3595~) and low ($2142~) on fractal is $1435
-Current area of interest approx 13/06/22 - 20/07/22 (today's date)
-Price difference between high ($1633~) and low ($879~) in current area of interest is $754
-Price different between fractal high/low and current area of interest high/low, is approximately half
-Possible bull trap ?
If this fractal plays out there is potential for ETH to retrace to the 1.168 of the current run to approx $613~
-Fear & Greed Index sitting around 30 (fear)
-Fractal taken from approx 27/12/21 - 28/05/22
-Price difference between high ($3595~) and low ($2142~) on fractal is $1435
-Current area of interest approx 13/06/22 - 20/07/22 (today's date)
-Price difference between high ($1633~) and low ($879~) in current area of interest is $754
-Price different between fractal high/low and current area of interest high/low, is approximately half
-Possible bull trap ?
If this fractal plays out there is potential for ETH to retrace to the 1.168 of the current run to approx $613~
Note
DXY also bounced off supportNote
-DXY holding at support. -ETH broken uptrend
-Created lower high
-Sitting below 15 min EMA & ATR
-Above 1 & 4hr EMAs
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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.