ETH - confirmation of wave 5!
Dear my friends,
The market last week was really volatile on smaller time frames. Leveraged traders have liquidated most of their accumulated assets. Then, the market continued to be drenched in red at the beginning of the week. However, is there really a need to worry that much? Let's look at the weekly chart. We have seen BTC, the king, show its absolute strength. What about ETH? The king has moved, but what about the queen? First, ETH closed the weekly candle at the peak of wave 3 the previous week. And last week, following the bloody trend of the market, ETH's price dropped deeply, but later, at the weekend, there was a significant buying force that ended the week with a beautiful Pinbar candle. However, the Pinbar is red. With such a Pinbar, it is normal for the market to be red at the beginning of the week. We still remember the entry rule of the Pinbar, right? The price can go straight up, pull back in the middle of the candle, or wick the tail of the candle. However, returning to the weekly candle that closed before, the price indeed closed above the peak of wave 3 and wave 5 has formed. We will soon see the speed of wave 5. Tighten your seat belts and let's ride with the queen towards the 7800$ price zone."
Hope this helps! 🚀📈
Best Regards,
The market last week was really volatile on smaller time frames. Leveraged traders have liquidated most of their accumulated assets. Then, the market continued to be drenched in red at the beginning of the week. However, is there really a need to worry that much? Let's look at the weekly chart. We have seen BTC, the king, show its absolute strength. What about ETH? The king has moved, but what about the queen? First, ETH closed the weekly candle at the peak of wave 3 the previous week. And last week, following the bloody trend of the market, ETH's price dropped deeply, but later, at the weekend, there was a significant buying force that ended the week with a beautiful Pinbar candle. However, the Pinbar is red. With such a Pinbar, it is normal for the market to be red at the beginning of the week. We still remember the entry rule of the Pinbar, right? The price can go straight up, pull back in the middle of the candle, or wick the tail of the candle. However, returning to the weekly candle that closed before, the price indeed closed above the peak of wave 3 and wave 5 has formed. We will soon see the speed of wave 5. Tighten your seat belts and let's ride with the queen towards the 7800$ price zone."
Hope this helps! 🚀📈
Best Regards,
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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.