As we can see, the price is now in the channel. I think that ETHUSD will bounce off the support zone and reach the upper channel line, and then bounce down and reach support line.π
That would be a bearish retest, let us wait for it. Thanks for sharing your idea π»ββοΈπ
InkyGrip
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Like it! congrats ππ¦
WMWToronto
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Yes i do agree, but for another reason. The smaller channel you show is located in a larger channel that ETH has been bouncing off of for a long time and even perhaps the larger channel is located within an even larger channel that spans 5 years ? Perhaps you could expand this chart a few times and see if we have channels within channels ? I have a linear regression chart somewhere on my computer that shows the history of ETH since it's inception and it is bouncing up and down, while moving upwards ( not downwards ) at the same fashion. it's all a matter of perspective. I hold ETH as a long term investment and just watch it grow.