ETH - A busy, but important chart
Okay yes there's a lot of lines on this one, I puked all my thoughts out onto it and tried my best to explain with text. I categorized this as a Long, however with potential more downside first... here's why.
Summary:
- want to reclaim 50th percentile of the overall fib (and breakout of downward sloping channel, at the least the channel eq)
- want to hold current support @ 1281
- if triangle is in play, target below in yellow back to downward sloping range low
- previous range base was also a significant range form January 2021, interesting is all
- elliot wave counts left out, might upload those later but they're on my YT
- bearish order block above in red (tapped twice)
- 786 fib is a must hold imo if we want no lower
Let me know what you think of Ethereum's current price action - in the comments!
V
Summary:
- want to reclaim 50th percentile of the overall fib (and breakout of downward sloping channel, at the least the channel eq)
- want to hold current support @ 1281
- if triangle is in play, target below in yellow back to downward sloping range low
- previous range base was also a significant range form January 2021, interesting is all
- elliot wave counts left out, might upload those later but they're on my YT
- bearish order block above in red (tapped twice)
- 786 fib is a must hold imo if we want no lower
Let me know what you think of Ethereum's current price action - in the comments!
V
Vatsik
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