There are 3 distinct gaps to be filled for ETH Futures: 2 gaps on the downside, 1 on the upside.
As for BTC Futures, the first gap on the downside ($2,096-$2,153) could be filled before to find a bottom on ETH if the BTC and the whole crypto market experiences a last Long squeeze to "wash" the market from high leveraged trades on the market.
Anyway, we see this...
Bollinger Bands:
We are in the low zone of the Bollinger Bands channel, close from the mid line.
MACD:
It looks bullish as the bottom is forming a W. Anyway, the volume is pretty low so it could reverse and form a M instead, let's keep aware about this.
Stochastic RSI:
It seems due to a short-term downturn which could lead to see the $25K CME gap filled...
In case of short-term (2/3 weeks) bearish action on the crypto market due to FOMC announcement:
We could see a violent move on the downside in the longs fulfillment zone 0.236 Fib before to see a trend reversal in the upside.
In case of bullish action on the crypto market due to FOMC announcement:
We could see a range price action between the 40-60K channel...
Here is a trend analysis based on objective thoughts - Not Financial Advice
The current price action on the whole crypto market is driven by the macro factors:
_ Political/economic tensions in Russia and Ukraine (long-term and potential high-risk effect on the markets)
_ Global Supply Chain shortages (latent risk impacting the commodities market and...
