ETH Crash? No, Bear trap!
Hello everyone :)
We keep on hitting the higher highs and lower lows as i expected and everything is following my projections nicely, we got a tough time in the 740-750 area as i said in my last post. It went inside my long position zone twice, since then we have rebounded and we are not pushing the 785-800 area, i expect this battle to go on for a little while.
In this chart i have just envisioned where we go from here, as I mentioned in my previous post, getting from 800-900 will be the "wow" factor, we will probably see some selloff because i think we will push pretty aggressivly in that price range and probably be overbought at some point.
In the longer term I see this channel extending for quite a while, and it's possible that this will form a larger mountain than the one we fell out from, thats why I would call this drop a bear trap.
We keep on hitting the higher highs and lower lows as i expected and everything is following my projections nicely, we got a tough time in the 740-750 area as i said in my last post. It went inside my long position zone twice, since then we have rebounded and we are not pushing the 785-800 area, i expect this battle to go on for a little while.
In this chart i have just envisioned where we go from here, as I mentioned in my previous post, getting from 800-900 will be the "wow" factor, we will probably see some selloff because i think we will push pretty aggressivly in that price range and probably be overbought at some point.
In the longer term I see this channel extending for quite a while, and it's possible that this will form a larger mountain than the one we fell out from, thats why I would call this drop a bear trap.
Uwaga
Typo, ”not pushing” = now pushing 785-800 areaUwaga
The channel got invalidated, however IT was arter we moved up to close to 800 before dropping to 730 area again, we are still continuing to apply pressure up. They key point is that we keep on making higher highs and lower lows. I would like to see 750 hold next push to 800, selling will always occur efter such runs. I think we will consolidate around 750-800 for a bit until we regain momentum to pave the way to 800+Uwaga
Typo; "it was after we moved up"...
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