ETH.USDT (Y21.P1.E7).Price action explained. Looking to enter?
Updated
Hi All,
As far as I can see, Ether has 2 scenarios besides the 3rd being a deep pullback.
For now, its still bullish because there is no change of trend on the daily or 12 hrly.
As you can see, in both time frames (TF), we see a bearish div on the macd and hence the price drop playout.
Question is how much of a correction, moderate or deep.
The moderate means the 12 or daily 10/20 ema is the trend support.
If it pulls back more, then the 2D or 3D comes into play.
As for the 2 scenarios, I have 2 channels, which we cannot confirm at this point.
If the price finds support here, we have the moderate correction and the top of the channel acts as support.
The 2nd scenario, is price is ranging in the channel as per the 2 snapshots demonstrate.
We will need to see what happens in the next 5 or 17 hrs of the candle closure with there corresponding TF of 12 and daily
All the best,
S.SAri
Scenario 1
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Scenario 2
================================================
2 scenarios
12 hr cradle / 1 day cradle
As far as I can see, Ether has 2 scenarios besides the 3rd being a deep pullback.
For now, its still bullish because there is no change of trend on the daily or 12 hrly.
As you can see, in both time frames (TF), we see a bearish div on the macd and hence the price drop playout.
Question is how much of a correction, moderate or deep.
The moderate means the 12 or daily 10/20 ema is the trend support.
If it pulls back more, then the 2D or 3D comes into play.
As for the 2 scenarios, I have 2 channels, which we cannot confirm at this point.
If the price finds support here, we have the moderate correction and the top of the channel acts as support.
The 2nd scenario, is price is ranging in the channel as per the 2 snapshots demonstrate.
We will need to see what happens in the next 5 or 17 hrs of the candle closure with there corresponding TF of 12 and daily
All the best,
S.SAri
Scenario 1
================================================
Scenario 2
================================================
2 scenarios
12 hr cradle / 1 day cradle
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