ETH structure in consolidation.
Looking for a capitulation to a lowwer support zone.
I can't get a decent order volume function but the order book support may be in the 700 !
Staying on the side to buy the dip with lower bids, hopefully above the whales orders.
Protect your principal capital. We are in a bull market, let the consolidation play out until...
We are out of the channels.
This is the take of to the moon.
All is price and pattern discovery from now.
We all know it could retrace as it is quite eraly and agressive in the cycle...
So saving this for latter contemplation
The 9150 support line is broken and may turn into a resistance line after some volatility to shake the undecisive hands.
Former support are turning into resistance and the Bearish chanel is awaiting confirmation with break down of the Bullish chanel at the 9150 resistance line.
See @Pentarhudi and @Excavo charts below
Observing the rising wedge support meeting the resistance levels
red resistance is a weekly at 9979
blue resistance is the local support and resistance at 10070
10070 is a potential entry for a long, on retest after a clear breakout.
right now the 9978 resistance is potentialy turning into support.
let's see how it unfolds.
The local resistance level at 9500USD is a historic one, waiting for a price rejection.
The Triangle resistance from the lower highs since the 12900USD local High is getting close too.
Biais in action : looking forward to price rejection.