Another sellout positions ETH below 2230 critical with lows touching off wedge support at 2165.
Initially I would've considered this as a reversal however with the addition of the adjusted pattern resistance it's possible to assume this simply as fillout.
Holding above this zone is imperative for maintaining recovery chances with 2145 as an extension given prior long-term ascending resistance (blue).
If we manage to close below 2145 (H1 -> D1) a bearish cycle is extremely possible.
www.tradingview.com/chart/gDBkksfy/
Initially I would've considered this as a reversal however with the addition of the adjusted pattern resistance it's possible to assume this simply as fillout.
Holding above this zone is imperative for maintaining recovery chances with 2145 as an extension given prior long-term ascending resistance (blue).
If we manage to close below 2145 (H1 -> D1) a bearish cycle is extremely possible.
www.tradingview.com/chart/gDBkksfy/
