Ethbottom
ETH Bearish Move Price Action This Week!Overall Bias: Strong Bearish
Plot:
ICT's Friday's Asian Range Principle leads towards a huge Daily TF GAP.
Behind the GAP is this context: Midpoint of 2018's top and 2019's bottom.
It is also where you can find the last strongest retracement and impulse move towards the bottom before this huge rally on crypto.
That area on ETHEREUM is going to be very very very sensitive. It is also already inside the deepest Discount level of this entire rally since 2019.
It has a very strong context of being the bottom for Ethereum.
A lot of Price Action this week for Crypto!
Ethereum bottomTrade setup:
Entry Price: 2500 USD
Target Price 1: 2800 USD
Target Price 2: 2900 USD
Target Price 3: 3000 USD
Target Price 4: 3100 USD
We can see in the price chart that the price of Bitcoin seen to have bottomed out, and this movement can also be seen in all three measured indicators.
The RSI hit its perceived bottom at 34 and the MACD also seemed to have the same bottom formation as the signal line and the MACD-line crossed.
We can also see this trend reversal in the DMI where the negative momentum has somewhat stopped as the positive momentum has started to form.
This is not financial advice.