Ethereum is stuck in a range.
It just tapped into a monthly bearish fvg above.
There is still some fvgs below with also equal lows liquidity resting below current price.
Price could go down and sweep the lows, tap into the bullish fvg below those liquidity, before the real rally.
However, this may not play out if price goes up again and displaces through...
as we can see, resistance/ supply zones are not pushing price down
instead price keeps pushing up
now its near a weekly and daily gap area which could be a resistance
i am not going long for now. i expect price to reject.
however, the way it gets pushed down will determine if the uptrend continues or if it ends.
if it gets pushed down by force, then i won't...
tesla is showing bullishness
look at it rejecting off the monthly flip zone, but not creating a new low, it did not take out jan 2023's low.
instead it kept pushing up
look at the blue box (it is a weekly flip zone). that did not hold as well
and tesla is now making higher highs and higher lows
we can see on the left that miicrosoft has been trneding up with higher highs and higher lows until that flipped zone which i marked out that pushed it down shifting structure.
Now price is rejecting off that level and reaching the 0.5fib, also a demand zone.
However price has been respecting daily bearish gaps thus far
so let's see if this 0.5 fib level holds,...
Weekly trend is still up, but fvgs formed on the way down, showing bearish intent
Price swept the 2 april lows' liquidity and then moved back up strongly on 5 aug week, creating a weekly bisi in the process, which is a bullish sign. Now bulls want to see the weekly fvg hold but currently it looks like its not holding. I will remain bullish only if this week's...
