swing trading bagholders with longs from April getting rid of their position. bears are weak, bulls crawling
......current situation it is this. back then the swings were wilder obviously. we need to ignore some noise.
nice trendline here, though it seam to become weak...but could pump out of it. than we established a nice short term support at 66k
you fail 3 times to keep the price over 70k, bears got hyped.....but got deeply disappointed cause they couldn't keep it below 65k either. a new bull attack at 70k might have less resistance this time....also halving hopium would help a lot.
be aware bears. hard to avoid new ATH. and I have to write more into this description to get this idea trough; thanks TV
after the first red, switch to daily candlestick and wait for a new top: sell!
some kind of triangle will form on $4000 support
normaly a down signal, this could explode into both directions soon, imo
(ETH+ETC) perhaps could be described as "the real ethereum price" (?)
this is a description, which isn't actualy necessary
and this pattern is just a guess. but still i don't doubt that this channel will be broken up
second bounce from 50% fib (not confirmed yet) building possible dubble top. Also building an RSI divergence. beeing 30 a psicologic support I would say this would be the neckline
about to form a dubble top - neckline is also 50% fib which could hold, but if not this correction ends
no, it's not a trading idea, nor a prediction. just showing how the first 2 fibs fit into that (projected) bottom near 1.000 yuan
after 3470 we go deep