It have to be easy and have to make sense.
Where Price Change direction?
Since july till today major movements happens in
THE ZONE: 430-350 Dollars.
Ethereum was very brillant and transformed the supply Zone in demand Zone. Now we are entering again in this demand/supply Zone.
December 2017 the demand /supply Zone gave to ethereum the force to pump till 1500. After that it plummet again till the Zone.
The following bounce topped at around 700, forming in my geometrical mind a CHANNEL.
We are approachning now the downward Support line of this Support (3 time was strong reactiv 2 times in july and 1 in September and just one time was broken, always in july for just 1 day).
Hypothesis 1 : we are again ready to bounce from the Zone and we will stay inside the channel.
On the other side Ethereum is also designing a nice falling wedge (the dotted line is the alternative Support to the falling wedge)
Hypothesis 2: the demand Zone will fail and we will continue on the bearish side.
The break down of the channel will be the first sing of the incoaming storm. Major bounce will happens on the Support of the falling wedge.
The Exit from the wedge is the safe Zone.
I'm quite busy in this Moment, I will try to update this Analysis as soon as possible, with a multicoin Approach.
here the multicoin Approach
BIO
Where Price Change direction?
Since july till today major movements happens in
THE ZONE: 430-350 Dollars.
Ethereum was very brillant and transformed the supply Zone in demand Zone. Now we are entering again in this demand/supply Zone.
December 2017 the demand /supply Zone gave to ethereum the force to pump till 1500. After that it plummet again till the Zone.
The following bounce topped at around 700, forming in my geometrical mind a CHANNEL.
We are approachning now the downward Support line of this Support (3 time was strong reactiv 2 times in july and 1 in September and just one time was broken, always in july for just 1 day).
Hypothesis 1 : we are again ready to bounce from the Zone and we will stay inside the channel.
On the other side Ethereum is also designing a nice falling wedge (the dotted line is the alternative Support to the falling wedge)
Hypothesis 2: the demand Zone will fail and we will continue on the bearish side.
The break down of the channel will be the first sing of the incoaming storm. Major bounce will happens on the Support of the falling wedge.
The Exit from the wedge is the safe Zone.
I'm quite busy in this Moment, I will try to update this Analysis as soon as possible, with a multicoin Approach.
here the multicoin Approach
BIO
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the graph
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up
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this one is right
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Verity time for ethereum
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But mr gartley seems to tell inside the channel
falling wedge pattern, Shark harmonic. Bounce from the trend line still possible.
If we look at the macd we can see some divergence..
In comparison with last run, the divergence is less strong and the MACD downtrend line is just a little bit above. This is a deciding moment, Strong upside or important downside. no escape.