To draw a fractal with most touches, ETH can be seen to be in a tight coil currently. A quick browse on TV and many publishers have been showing a horizontal top to this current pattern to form an ascending triangle. Without considering volume, if that were true then this would probably be an accumulation pattern with each successive touch weakening the upper trendline.
However that is not what is happening. Each bounce has retraced just past 0.886 retracement which means price is regressive not accumulative.
ETH price is certainly interesting how it coils in this way - holding a very narrow price band. Tightening price leads to explosive impulses with buyers and sellers becoming trapped and pressure building. This may be similar to the trapped price of SOW / AR - See my Wyckoff thread for details.
Expecting an explosive move to the downside after price drifts sideways.
Not advice.
However that is not what is happening. Each bounce has retraced just past 0.886 retracement which means price is regressive not accumulative.
ETH price is certainly interesting how it coils in this way - holding a very narrow price band. Tightening price leads to explosive impulses with buyers and sellers becoming trapped and pressure building. This may be similar to the trapped price of SOW / AR - See my Wyckoff thread for details.
Expecting an explosive move to the downside after price drifts sideways.
Not advice.
註釋
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"Its different this time."註釋
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。