If we were to assume ETH was in an accumulation phase, referencing a potential Adam & Eve double bottom forming on higher time frames, we would expect to see "inverse" distribution on the lower time frames.
The adam and eve double bottom is essentially an accumulation range, and the breakout would be the top of the range or neckline. Ideally youd want to see the breakout point broken, and a checkback or retest.
This is an inverted chart breaking down the distribution and reaccumulation, which in turn would represent accumulation within the normal context of the chart.
This is a bias exercise and its too early to validate the adam and eve bottom, but underneath this inflection zone, it would make sense to go test the bottom of the range next on this chart. Which would imply a test of the neckline without the inverse context.
Just an idea for now, but it does appear we are setting up for a continuation.
The adam and eve double bottom is essentially an accumulation range, and the breakout would be the top of the range or neckline. Ideally youd want to see the breakout point broken, and a checkback or retest.
This is an inverted chart breaking down the distribution and reaccumulation, which in turn would represent accumulation within the normal context of the chart.
This is a bias exercise and its too early to validate the adam and eve bottom, but underneath this inflection zone, it would make sense to go test the bottom of the range next on this chart. Which would imply a test of the neckline without the inverse context.
Just an idea for now, but it does appear we are setting up for a continuation.