Hi Guys,
In this analysis, I will share my opinion on ETHUSD. This may not be so technical rather I want to explain what I think can happen.
Now, ETHUSD is moving lower very significantly, and many traders think that the "hype" is gone. However, I think there is a pretty good chance, structure wise to revisit the low of 357.87 with a big spike lower, followed by a massive rally.
Why? because the 357.87 is a significant swing low and many traders may think that when that area breaks ETHUSD is going to crash to 50 or lower. But I think that there is a good chance for ETHUSD to rally after revisiting that area based on the sentiment cycle:
How? Simple, ETHUSD can just become a big flat pattern shown in the chart.
Anyway, bookmark this analysis and we will see what will happen. As the short-term time frame is concerned I am expecting way more downside.
Hope this helps.
In this analysis, I will share my opinion on ETHUSD. This may not be so technical rather I want to explain what I think can happen.
Now, ETHUSD is moving lower very significantly, and many traders think that the "hype" is gone. However, I think there is a pretty good chance, structure wise to revisit the low of 357.87 with a big spike lower, followed by a massive rally.
Why? because the 357.87 is a significant swing low and many traders may think that when that area breaks ETHUSD is going to crash to 50 or lower. But I think that there is a good chance for ETHUSD to rally after revisiting that area based on the sentiment cycle:
How? Simple, ETHUSD can just become a big flat pattern shown in the chart.
Anyway, bookmark this analysis and we will see what will happen. As the short-term time frame is concerned I am expecting way more downside.
Hope this helps.
