ETH in Danger Zone, H&S and Triangle, Part 6

アップデート済

Yesterday's bull flag i posted played out, broke up and rallied a bit, but as you can see, there was no real volume. This shows again how important volume is. The fact that it broke down straight through the flag again, is usually a very bad sign.

So where it looked like that blue line scenario on the middle chart was out of play with that last push, now it seems to be back in play again. That green support seems to be a solid one, so we could see something happen here. But when zooming out and looking on the chart at the left, all this bullish movement of the past 2 days has been nothing more that a retest of former support, retest of the neckline of that H&S.

So objectively, ETH is still in bearish mode here. With Bitcoins low volume, also nothing real to go on there as well. Making things still very uncertain for both sides. But all these uncertainties, are usually in favor of the bears. But as long as it stays above that green zone on the right, there is a realistic chance for a move up again. If that breaks, i would be very careful. For ETH' to become really bullish/neutral again, it has to get above that neckline around 115 again.

If we see the daily candle today close below that green support on the left, so below 102ish, with volume higher than yesterday, it will be a sell signal

Previous analysis:

ETH in Danger Zone, H&S and Triangle, Part 5

ノート

Ping Pong behavior for ETH as well now. At the moment is looks like a good bull flag, if it can stay inside of it, we should see another push. But we want to see more volume than we had with the break out a few days ago, the one that failed.