In the past analysis, we see that the price not only move up, this was because as CPI data was bearish for USD that this week I don't be pending in the economic calendar in Forex market, if I do it, I can to adjust my analysis very well. But we only see a one trade for the specific movement in the price. Also, if I would gotten draw the bullish channel flag on December, 12, 2022, I would identify this opportunity to change to long. But as based my technical analysis, it's seem bearish, but in economic calendar spoke us the right direction for the global financial market.
But now, we see an interesting trade in Ethereum to long position here, and also another bearish perspective to take in note in all consideration for us. We see a pull back in formation in Ethereum price, what this mean if Ethereum make any bullish signal in the price action, we can to put long position following the green arrow model in this chart, but in another hand, if we see a market trap like the red arrow model in this chart, we can to see a little up, and then a small consolidation in the previous higher in $1,344 USD approx. we can to see a possible bearish signal and a strong volatile to forming a liquidation of long position. As I learned in the previous analysis in Ethereum that my analysis was in short, I was good and this analysis could to happen, but goes to short liquidation in this case. what it's very important to be prepared in both scenario
In Daily timeframe, we could to get a clear clue that if this candlestick closed up with any bearish rejection, we could to see a drop incoming days to watch. What it's very important to recall that we would need to be prepared for both scenario: bullish and bearish.
Now, I will hope if in H1 timeframe we see a bullish signal in Ethereum price in what the price develop the formation, by the contrary, I will still hope if bearish scenario may to occur in the next days.
Good luck!!!
But now, we see an interesting trade in Ethereum to long position here, and also another bearish perspective to take in note in all consideration for us. We see a pull back in formation in Ethereum price, what this mean if Ethereum make any bullish signal in the price action, we can to put long position following the green arrow model in this chart, but in another hand, if we see a market trap like the red arrow model in this chart, we can to see a little up, and then a small consolidation in the previous higher in $1,344 USD approx. we can to see a possible bearish signal and a strong volatile to forming a liquidation of long position. As I learned in the previous analysis in Ethereum that my analysis was in short, I was good and this analysis could to happen, but goes to short liquidation in this case. what it's very important to be prepared in both scenario
In Daily timeframe, we could to get a clear clue that if this candlestick closed up with any bearish rejection, we could to see a drop incoming days to watch. What it's very important to recall that we would need to be prepared for both scenario: bullish and bearish.
Now, I will hope if in H1 timeframe we see a bullish signal in Ethereum price in what the price develop the formation, by the contrary, I will still hope if bearish scenario may to occur in the next days.
Good luck!!!
