I have been making plays mostly based on the 4 hour charts. Now that doesn't mean that we cant dip into the one hour to see whats going on.
So lets take a look:
What I see here is a weak buy back rally that has volume under moving average and also under the recent selling hours volume.
I have pointed out on numerous occasions that when we see these stubby short candles with wicks on each side that I believe a trend change is coming.
However this isn't the strongest case I have ever seen. (see linked published idea on BTC)
That being said it would not surprise me to see ETH price action go either way up or down.
I do maintain that if it goes up it is most likely a suckers rally.
I personally will not restore confidence in or speculate spot or long on ETH until it has closed daily over $4k multiple times.
Until then,
Happy Trading my friends,
Crypto Slayer
So lets take a look:
What I see here is a weak buy back rally that has volume under moving average and also under the recent selling hours volume.
I have pointed out on numerous occasions that when we see these stubby short candles with wicks on each side that I believe a trend change is coming.
However this isn't the strongest case I have ever seen. (see linked published idea on BTC)
That being said it would not surprise me to see ETH price action go either way up or down.
I do maintain that if it goes up it is most likely a suckers rally.
I personally will not restore confidence in or speculate spot or long on ETH until it has closed daily over $4k multiple times.
Until then,
Happy Trading my friends,
Crypto Slayer
