ETH - Equal lows stop hunt?
Updated
ETH seems to be a bit more tricky at this point... Now with the possible tailwind of the ETF, which in my opinion is not priced in yet, ETH should perform well eventually. But similar to what we have seen after the approval and listing of the BTC ETF, it seems to lack conviction.
When looking at the chart I see a possible danger right ahead: Equal lows. These usually get run for a nasty stop hunt, so this is what I would wait for before entering the market again. But again, just a WILD guess, anything could happen at this point.
To the upside 3.6k should be THE resistance to break for continuation, ETH should then pick up momentum and target the 5k level.
Stay safe!
When looking at the chart I see a possible danger right ahead: Equal lows. These usually get run for a nasty stop hunt, so this is what I would wait for before entering the market again. But again, just a WILD guess, anything could happen at this point.
To the upside 3.6k should be THE resistance to break for continuation, ETH should then pick up momentum and target the 5k level.
Stay safe!
Note
Mixing up together my ETH analyses, haha. But in both I have said that I lean towards a nasty stop hunt to 2700$ and speaking of which it looks like my gutfeeling wasn't too far off :) It still needs to get there bur right now I see no reason for ETH to go up WITHOUT beforementioned bear-trap, it's just so obvious and surely easy for one single whale to pull this off.
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