Ethereum Hammer of Death, $1700 here we come?
Updated
Long wicks on top during periods of strong volume shows signs of strong rejection
Right now looking at a spinning top neutral candle with 30 mins left in this 4 hour period which has strong buy volume.
Weak price action with decent volume tells me that bulls are starting to capitulate observe 4 hour buy periods v 4 hour sell periods and compare their volume.
Trade at your own risk this is very risky and not advice.
I believe Ethereum will be revisiting sub 2k zone soon.
I have included an idea from @OptimoomFX which supports my thesis that the entire crypto market will sink lower and retest old resistance levels.
Also view my other ideas for more information on how we got here.
Right now looking at a spinning top neutral candle with 30 mins left in this 4 hour period which has strong buy volume.
Weak price action with decent volume tells me that bulls are starting to capitulate observe 4 hour buy periods v 4 hour sell periods and compare their volume.
Trade at your own risk this is very risky and not advice.
I believe Ethereum will be revisiting sub 2k zone soon.
I have included an idea from @OptimoomFX which supports my thesis that the entire crypto market will sink lower and retest old resistance levels.
Also view my other ideas for more information on how we got here.
Note
yahoo has reported inflation numbers highest since 1982
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