Ethereum (ETH): Possible Break of Structure (Bullish)
Ethereum is looking for a BoS (break of structure) on the daily timeframe, which could result in some good upward movement towards the $4000 zone.
We are monitoring closely at that current zone where, upon seeing a clean BoS, we will look for upward movement, but if we do not get the break of structure from here, we most likely will fall to the lower orange zone (which might be broken and would result in a movement to both 100 and 200 EMAs).
Swallow Team
We are monitoring closely at that current zone where, upon seeing a clean BoS, we will look for upward movement, but if we do not get the break of structure from here, we most likely will fall to the lower orange zone (which might be broken and would result in a movement to both 100 and 200 EMAs).
Swallow Team
Note
On Ethereum we are seeing that after a breakout from triangle pattern price has formed 2 small BoS zones here (where the second one seems a little bit too weak, possibly a fakeout).
While a break of the triangle pattern is a bullish sign, and the price of ETH has a lot of room to grow from here, there is a possibility of downward movement from here (if we see our sell entry to be secured).
So we are waiting for that zone to be reached and secured by sellers after what we might see a quick movement to our support zone!
Note
Ethereum has formed a fakeout near BoS, which resulted in a movement towards our targeted entry LVL for short positions (which did not get secured).
As price touched lightly in this zone, it went back up for a possible liquidity sweep, and now we are waiting for another possible touch to happen, which, upon breaking and securing, will be a good zone for a short position toward our target zone!
Note
Ethereum touched yesterday our zone of entry but failed to secure, where it went and formed another smaller BoS.
Now we are seeing some kind of weakness that might lead price back for a re-test where we will be waiting to see a breakdown, which would then result in a movement to lower zones from there!
Note
Ethereum has not done much since yesterday, where we still haven't had our MSB (market structure break), which we are waiting for in order to reach $3,300, where our entry is sitting for Dowwnard movement.
This said, we wait for the $3,530 zone to be broken, which would form MSB, and a movement to lower zones can start.
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