ETH.USDT (Y21.P1.E13).The squeeze
Updated
Hi Traders,
Looking at the current price action, ETH has held 1800 now for a short time and is looking on the 1 HRLY chart to make some significant move as it approaches this apex.
The indicators on the 8 hrly don't tell you which way neither does the 4 or 12 or daily.
With BTC consolidating under the ATH and likely to range sideways for more days to come, with a bearish div\ downward pressure, its likely coins like ETH might make an upward move.
At this point, I would look for the breakout in either direction to make that final decision based on the chart below.
Still waiting for that sign to go long.
All the best,
S.SAri
Bullish scenario, with the setup
If it goes down, the potential structure
8 HRLY with clear indicator watch points
Looking at the current price action, ETH has held 1800 now for a short time and is looking on the 1 HRLY chart to make some significant move as it approaches this apex.
The indicators on the 8 hrly don't tell you which way neither does the 4 or 12 or daily.
With BTC consolidating under the ATH and likely to range sideways for more days to come, with a bearish div\ downward pressure, its likely coins like ETH might make an upward move.
At this point, I would look for the breakout in either direction to make that final decision based on the chart below.
Still waiting for that sign to go long.
All the best,
S.SAri
Bullish scenario, with the setup
If it goes down, the potential structure
8 HRLY with clear indicator watch points
Comment
Bigger time frames, it will just look like a wick below
Comment
As per indicators, broke the micro trend. Not a time to buy yet.Trade active
Didn't see this little formation coming. What next, looks bullish to me. Strong resistance here.Comment
Trade active
I jumped in yesterday for a small trade, still have it open.If it holds this level for a day., then its likely to consolidate under its all time high and work its way to a breakout.
Comment
Just buying more now.
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