ETH: Downward Channel Broken, But $230 On The Way!
Let's have a look at the last analysis guys:
We can see that we have broken this sort of downward channel, albeit a flat one, to the upside. Now the bulls are basically at the crucial Daily S&R zone, which you can see better on this picture zoomed out:
Any move will highly depend on what grandpa BTC does now at the 11k. resistance: If we reject there and further consolidate, ETH will do the same.
In the direct correlation to Bitcoin the last time we were the bottom of this EQ range:
=> The bulls are struggling to keep the 0.02 BTC psychological range. A further downbreak will mean further weakness towards Bitcoin, independent of USD.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
We can see that we have broken this sort of downward channel, albeit a flat one, to the upside. Now the bulls are basically at the crucial Daily S&R zone, which you can see better on this picture zoomed out:
Any move will highly depend on what grandpa BTC does now at the 11k. resistance: If we reject there and further consolidate, ETH will do the same.
In the direct correlation to Bitcoin the last time we were the bottom of this EQ range:
=> The bulls are struggling to keep the 0.02 BTC psychological range. A further downbreak will mean further weakness towards Bitcoin, independent of USD.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
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