ETHUSD: Several Scenarios
ETHUSD: Daily Chart
Price currently consolidating. Breakout required
Bearish Scenario:
- Morning Star (bearish reversal)
- Break in overall uptrend
- Change in Market Structure ie. LL + LH
- Need a break and hold under $220 for bearish bias
- Break and re-test of Support for further confirmation
Bullish Scenario:
+ Potential Bull Flag forming
+ Bullish Harami on Support level
+ Waiting for Market Structure to change ie. HL
+ Bounce of support w/ HL is possible
+ Watch break up of Centre Bollinger Band
+ Waiting for break and re-test for further confirmation
Price currently consolidating. Breakout required
Bearish Scenario:
- Morning Star (bearish reversal)
- Break in overall uptrend
- Change in Market Structure ie. LL + LH
- Need a break and hold under $220 for bearish bias
- Break and re-test of Support for further confirmation
Bullish Scenario:
+ Potential Bull Flag forming
+ Bullish Harami on Support level
+ Waiting for Market Structure to change ie. HL
+ Bounce of support w/ HL is possible
+ Watch break up of Centre Bollinger Band
+ Waiting for break and re-test for further confirmation
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