Ethereum / Tether USDDiupdate ETH, which line is gonna break?
Another important crossroads coming for ETH.
price reached a good downside flag target and and 60% retracement to complete an ABC correction.
If the green head and shoulders works out then we have a good chance to break the red downwards channel and our impulse wave will be confirmed. I will also be watching for some above average breakout volume.
However, the reality is that we are still only showing lower highs and lower lows and a trend reversal is pure speculation until a higher low and higher high is revealed. A reaction at a touch of the red channel can only post a 'lower high' and make further downside price action much more likely. There will certainly be buyers camped at both the green trend lines and either of them could turn out to be the bottom in the long run.
On the up side, volume does appear to have returned to the BTCUSD markets and it has come very close to posting a 'higher high' and attempted breaking out of the downtrend channel. A return of the BTC bull would mean good things for the whole of crypto eventually.
price reached a good downside flag target and and 60% retracement to complete an ABC correction.
If the green head and shoulders works out then we have a good chance to break the red downwards channel and our impulse wave will be confirmed. I will also be watching for some above average breakout volume.
However, the reality is that we are still only showing lower highs and lower lows and a trend reversal is pure speculation until a higher low and higher high is revealed. A reaction at a touch of the red channel can only post a 'lower high' and make further downside price action much more likely. There will certainly be buyers camped at both the green trend lines and either of them could turn out to be the bottom in the long run.
On the up side, volume does appear to have returned to the BTCUSD markets and it has come very close to posting a 'higher high' and attempted breaking out of the downtrend channel. A return of the BTC bull would mean good things for the whole of crypto eventually.
Catatan
Reactions on any of the rising trendlines will lead to a higher low on BTC. :)
Catatan
Thanks to Fx-Nature who's posts opened my mind to the possibility of a further WXY correction.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.