The last time ETH closed five days red was in late January and wow, this event produced the strongest bearish force since the 2022 bear market. Now we have five days red and it means nothing to Ethereum's price.
There is always some kind of a pause, a green day or something, after five days red. But this isn't what I am about right now when showing you this chart.
It is the difference that I want to point out between a bearish wave, bearish market conditions and a recovery period, transitional period or bullish market conditions.
When the market was bearish, each period of sustained bearish action ends with lower lows and major space being covered. When the market is not bearish, rather sideways, neutral or simply consolidating before additional growth, then months of bearish actions results in no new lows.
This is what is happening now. Ether has been going down for the past ten days and nothing changes. Ethereum has been bearish for an entire month and its price continues to be really strong. That's consolidation my dear friend and that's extremely bullish at this point.
What this analysis reveals is a buy-chart setup, one you can use to accumulate before a massive bullish jump.
Don't get me wrong, there can be shakeouts, price swings and more noise but I am not concerned with those. I am interested in the bigger picture and the bigger picture is a major price jump. Ethereum will be moving higher next. We can see $3,000 being challenged in the coming weeks, even higher next month.
Thank you for reading.
Namaste.
There is always some kind of a pause, a green day or something, after five days red. But this isn't what I am about right now when showing you this chart.
It is the difference that I want to point out between a bearish wave, bearish market conditions and a recovery period, transitional period or bullish market conditions.
When the market was bearish, each period of sustained bearish action ends with lower lows and major space being covered. When the market is not bearish, rather sideways, neutral or simply consolidating before additional growth, then months of bearish actions results in no new lows.
This is what is happening now. Ether has been going down for the past ten days and nothing changes. Ethereum has been bearish for an entire month and its price continues to be really strong. That's consolidation my dear friend and that's extremely bullish at this point.
What this analysis reveals is a buy-chart setup, one you can use to accumulate before a massive bullish jump.
Don't get me wrong, there can be shakeouts, price swings and more noise but I am not concerned with those. I am interested in the bigger picture and the bigger picture is a major price jump. Ethereum will be moving higher next. We can see $3,000 being challenged in the coming weeks, even higher next month.
Thank you for reading.
Namaste.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.