ETH - update, still bleeding

4 de jun. de 2022

The weekly chart showcases it all for ETH.

Daily Update below

• Eth still has opportunities to continue breaking after a relief rally
  
• The current green trendline will break causing a deeper sell off which will align towards the monthly target arrival (see below)
  
• Price is now touching the regression bands and will need to capitulate for buyers. Bear market is still strong. BTC dominance is rising continuously (as expected).
  

Review the original analysis snips from below;

Important notes.
- It is recommended to click into the pictures to review the model figures and or view the technical setups in clearer details, depending on what format of choice is being used (mobile, laptop, pc screen).

Risk Warning
Trading leveraged products such as Forex, commodities and CFDs, carries with it a high level of risk and so may not be suitable for every investor. Prior to trading the foreign exchange, commodity or CFD market, consider your investment objectives, level of experience and risk appetite. You should never risk more than you can afford to lose. If you fail to understand or are uncertain of the risks involved, please seek independent advice and remember to conduct due diligence as criteria varies to suit the individual.


II.
Master Key for zones

• Red = Three Month
  
• Blue = Monthly
  
• Purple = weekly
  
• Orange = Daily
  

Monthly, original level
Criteria

• Original level, where the market takes the order from the RBR (Rally Base Rally), the lower level is not tested, due to the original not being required. The reaction is built upon the bi-monthly and weekly chart respectively with the reactive test occurring. (Review re-tested level, fig.3)
  

Bi-monthly level

• Note back to the previous structure, pertaining 2018 (Jan, 2018) - the structure has netted off the imbalance from the original all time high.
  
• This has now created a strong base for buying potential. To truly understand Fig.2, read the below section for further explanation.
  
• Fresh level or future level has already incurred a bi-monthly test once, but not a deep retest so consider this a reactive move upon a fresh level.
  
• Structure here is still strong as a basic test of the bi-weekly close has only been tested (which is the imbalance) see (Fig.1) below, as to the Continuation pattern (CP) was required in the previous structure.
  

(Fig.1)


(Fig.2)
Why is the previous structure important in making an informed decision?
History repeats itself, although - no trader/investor will know the exact date, instead risk calculated moves are prepared using what information is displayed upon the market structure.
The key zone is highlighted, firstly in purple to represent the bi-monthly zone.
The second white dotted lines, show a distinctive close which nets off the February 26, 2018 weekly high. The high closures upon a net 'zero' is a clear distinctive technical piece of information which allows confirmation the price is showing the next move from. This does not 100% always align, however, with probability and risk calculations upon reading the candle stick closures on higher time frames, sentiment can be clear.



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• Professional analyst with 5+ years experience in the capital markets
  
• Focus on technical output not fundamentals
  
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LVPA MMXXII