Ethereum Long-Term View Price still below 100 and 200 Weekly Moving Averages
Prepare for a rebound, sideways and capitulation to the 618 Fib
Expect lower prices, even if a temporary retrace up could be in the cards.
Prepare for further downside, but in the end, it should continue up as long as it stays above the bottom Purple trend line. Price failing 21 weekly EMA. It happened 3 times in the previous bear market. I expect similar movement between the moving averages, and one final shakeout to the 5-5500k support. Failing that, it would be problems and could go much lower....
Checked support turned resistance at first, rejected and sold off. Measured move might be a bit too much to ask as a retrace.
Bullish and Bearish Scenarios.
Longer Term Bull Case if this uptrend isn't a bear market rally, B Wave.
Notice the Stochastic and RSI inconsistencies with the past trend? What's your take?
Series of ascending triangles and longer time between ATHs. Hold some positions just in case this won't happen, have cash on the side for the true bottom.
Ascending triangle formation shows a terrible secret. Let's hear some opinions.
How valid could this be? Does it make sense structurally?
This Candle was NEVER Squared Up. Are we going to see 4200?
This Candle was NEVER Squared Up. Are we going to see 4200?
where is RSI Support? Weekly Chart
Broke RSI uptrend, potentially testing green RSI long-term uptrend, although readings are quite high already. If that breaks, sign of larger correction incoming as Stochastic RSI in the weekly and daily would also curve down and give downward momentum.