Panic selling from FTX
It was not a bad looking after last Friday test new high 1677, then it did not try to test new high.
As previous analysis:
"Let's watch 1500-1525 could hold or not.
If it could not hold, a further correction might be coming."
A Panic selling after FTX FTT liqudation announcement from Biance today, but volume small.
We obserbed 1500 to 1525 area and it did not hold, market test 50 day MA. (Please see the chart.)
Since it is panic selling: 2 scenario might be developed.
1st Scenario: Seller try dump again: push it to more lower level.
2nd Scenario: Sell the rumor, buy the fact. ETHUSD is not related to FTX, market will pump up quickly, then dump to test 50 day MA again.
2nd Scenario preferable.
As previous analysis:
"Let's watch 1500-1525 could hold or not.
If it could not hold, a further correction might be coming."
A Panic selling after FTX FTT liqudation announcement from Biance today, but volume small.
We obserbed 1500 to 1525 area and it did not hold, market test 50 day MA. (Please see the chart.)
Since it is panic selling: 2 scenario might be developed.
1st Scenario: Seller try dump again: push it to more lower level.
2nd Scenario: Sell the rumor, buy the fact. ETHUSD is not related to FTX, market will pump up quickly, then dump to test 50 day MA again.
2nd Scenario preferable.
Note
Yes...Scenario 2! : Pump up quickly, then test 50 days MA!
Note
Scenario 2 and then
Scenario 1: Buyers Kill Buyers
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.