AT CryptoScan: ETHUSD The retracement and the potential (2/2)
In part 2, we look at the longer term ETHUSD weekly chart...
Here, what is really nice is that there is clearly a breakout of a previous resistance. This also means that we can expect a potential retest of that level; which happens to be above the expected downside target.
The technical indicators MACD and VolDiv are actually indicating bullishness! Have to justify, that primary trend is still bearish, and until ETHUSD is above 3200, then only would the long term primary trend be bullish.
For now, observable that the consolidation range is about 1200-2000. All about the accumulation and the potential that would happen in the coming months of 2023.
IMHO... I would like to relook and reconsider accumulation about 1600 or below in the coming months.
What about you?
Here, what is really nice is that there is clearly a breakout of a previous resistance. This also means that we can expect a potential retest of that level; which happens to be above the expected downside target.
The technical indicators MACD and VolDiv are actually indicating bullishness! Have to justify, that primary trend is still bearish, and until ETHUSD is above 3200, then only would the long term primary trend be bullish.
For now, observable that the consolidation range is about 1200-2000. All about the accumulation and the potential that would happen in the coming months of 2023.
IMHO... I would like to relook and reconsider accumulation about 1600 or below in the coming months.
What about you?
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