A very unexpected turn of events as 
ETH is sent back above the cycle test zone (solid purple) with current hold around buffer high.
Critical support was seen at both the solid blue line (previous triangular support) and 3200, where close and low indicate another example of 'crossover support'.
Based on prior posts, my assumption was that we would have seen a continued drop to 3k (blue -> black -> red) or a reversal around 3100. Since neither of these occurred, and weekly is back on track with short-term divergence, there's a good chance we could break for 3600. However, another close below CTZ could create a double-top formation (neckline at solid blue) and possibly label this as an overall bearish cycle.
Remember that above CTZ = bullish and below CTZ = bearish (+ factoring buffer zone).
ETH is sent back above the cycle test zone (solid purple) with current hold around buffer high.Critical support was seen at both the solid blue line (previous triangular support) and 3200, where close and low indicate another example of 'crossover support'.
Based on prior posts, my assumption was that we would have seen a continued drop to 3k (blue -> black -> red) or a reversal around 3100. Since neither of these occurred, and weekly is back on track with short-term divergence, there's a good chance we could break for 3600. However, another close below CTZ could create a double-top formation (neckline at solid blue) and possibly label this as an overall bearish cycle.
Remember that above CTZ = bullish and below CTZ = bearish (+ factoring buffer zone).
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.