ETH unable to push back above cycle deviation or maintain lower buffer triggering a massive sellout.
High volatility sent us right past the dashed blue pattern line with support at the dashed yellow line.
This yellow line was the average of the prior highlighted pattern (dashed blue-red) and still serves as a critical marker.
If we assume an upper limit (buffer), denoted by the lower dashed purple line, we can expect it to act as an average for the current highlighted pattern.
I could see two scenarios play out here:
1. Price is able to maintain yellow support and consolidates between that and the dashed blue line for a few days.
2. Price cannot break 1750 and eventually drops to solid blue -> dashed red.
www.tradingview.com/chart/gDBkksfy/
High volatility sent us right past the dashed blue pattern line with support at the dashed yellow line.
This yellow line was the average of the prior highlighted pattern (dashed blue-red) and still serves as a critical marker.
If we assume an upper limit (buffer), denoted by the lower dashed purple line, we can expect it to act as an average for the current highlighted pattern.
I could see two scenarios play out here:
1. Price is able to maintain yellow support and consolidates between that and the dashed blue line for a few days.
2. Price cannot break 1750 and eventually drops to solid blue -> dashed red.
www.tradingview.com/chart/gDBkksfy/
