ETH in a Descending Channel
ETH is currently trading within a well-defined descending channel, consistently showing lower highs and lower lows since mid-March.
Descending Channel: The upper and lower boundaries act as reliable resistance and support zones.
Double Bottom Pattern: Price recently formed a double bottom near the $75,000 zone (labeled “HUNT2”), which is typically a bullish reversal signal.
Breakout Target: A breakout of the neckline from the double bottom is aimed at the $85,000-$86,000 zone, which coincides with the upper boundary of the channel — the confluence resistance.
Fake Trades (HUNT1 and HUNT2): These “hunting” zones likely reflect attempts to grab liquidity or trigger stop-loss limits, indicating strong institutional manipulation ahead of larger moves.
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🔮 What’s Next?
🎯 Bullish scenario: After touching the lower level of the neckline, the wave touches the upper line of the channel and the target of the formation.
⚠️ Bearish scenario: Rejection of the $85k zone could see BTC fall towards $FWB:73K-74k. Further declines could draw attention to the $69k-70k zone.
15 hours ago
Active order
Spot gold has reached $3,200 for the first time, setting a new record. The total gain this week has exceeded 5%. With many positive factors, such as intensified trade tensions and growing expectations for a Fed rate cut, will prices continue to rise in the future?
ETH is currently trading within a well-defined descending channel, consistently showing lower highs and lower lows since mid-March.
Descending Channel: The upper and lower boundaries act as reliable resistance and support zones.
Double Bottom Pattern: Price recently formed a double bottom near the $75,000 zone (labeled “HUNT2”), which is typically a bullish reversal signal.
Breakout Target: A breakout of the neckline from the double bottom is aimed at the $85,000-$86,000 zone, which coincides with the upper boundary of the channel — the confluence resistance.
Fake Trades (HUNT1 and HUNT2): These “hunting” zones likely reflect attempts to grab liquidity or trigger stop-loss limits, indicating strong institutional manipulation ahead of larger moves.
______________________
🔮 What’s Next?
🎯 Bullish scenario: After touching the lower level of the neckline, the wave touches the upper line of the channel and the target of the formation.
⚠️ Bearish scenario: Rejection of the $85k zone could see BTC fall towards $FWB:73K-74k. Further declines could draw attention to the $69k-70k zone.
15 hours ago
Active order
Spot gold has reached $3,200 for the first time, setting a new record. The total gain this week has exceeded 5%. With many positive factors, such as intensified trade tensions and growing expectations for a Fed rate cut, will prices continue to rise in the future?
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.
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.