ETH Daily Candle Breakdown
Updated
For those of you following my ideas recently know that I am very bullish on ETH. This is primarily based on my previously conducted Volume study. link below
That being said, Ethereum just closed a daily candle below a multi-week trendline. Just about 2 weeks after the VPSI showed complete buyer exhaustion on the daily at about $250.
These signs lead me me to believe that IF ETH fails to reclaim this trendline, a larger pullback may occur within the next couple days.
Overall I wish to remain bullish on ETH.
Therefore posted this as a Long, and have shown possible support levels on the chart above.
Be sure to check out my Ethereum Volume Analysis on why I think the bottom could be near & my Long Targets!
I hope you all found this idea interesting and maybe even a little helpful!
I wish you all the best of luck!
That being said, Ethereum just closed a daily candle below a multi-week trendline. Just about 2 weeks after the VPSI showed complete buyer exhaustion on the daily at about $250.
These signs lead me me to believe that IF ETH fails to reclaim this trendline, a larger pullback may occur within the next couple days.
Overall I wish to remain bullish on ETH.
Therefore posted this as a Long, and have shown possible support levels on the chart above.
Be sure to check out my Ethereum Volume Analysis on why I think the bottom could be near & my Long Targets!
I hope you all found this idea interesting and maybe even a little helpful!
I wish you all the best of luck!
Note
possible head and shoulders pattern forming on the lower TF's just below daily resistance line. lets see if the neckline holdsNote
First Support level hit. Les see how it holds
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
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