Moderate bullish

2 Nov 2022

After the price touch 200 days log MA(our first target), ETHUSD starting a downtrend correction. Price drop together with volume drop, too.
It seems that 150 days MA(low) provide the first leyer support.
8 days EMA, 20 days EMA, and 50 days EMA are all in the uptrend.
If it could try to test low side again(the low side of the RED paralllel line)(8 days EMA) or test 100 days MA, that would be prefect.
Otherwise, it might try to test the high side(The RED parallel line) again.

2 Nov 2022

Nota

Too early to test the high side, although it break the high side RED line, but it was rejected by 175 days log MA

It will test 120 day log MA, or test 100 days log MA.

2 Nov 2022

Nota

US30 has the same pattern.
Failed to hold the initial upside momentum and turned sharply lower after the FED press conference.

3 Nov 2022

Nota

Let's see if it want to test low(120 day MA) again.

Notice that:
The trend stop at 120 days MA, does not follow US30 (DOW JONES INDUSTRY AVERAGE) after 8:00 (UTC+8)

4 Nov 2022

Nota

A nice challenge 200 days LogMA. (2nd time in one week)
Price turn sharply dropped after FED presse 2 days ago could be viewed as push down to buy(PDTB). 120 days Log MA provide a good support. It did not test twice 120 MA as we expected.