After seeing that ETH broke out Ascending channel and retesting the Supply zone of $1,250 region and banks/institutions creped into the liquidity zone creating a M pattern formation ... meant to induce traders to buy into an institutional sell. Price did not breach $1,260 and $1,280 region, .. pure price action along with my indicators gave me an indication that price will be dropping to near Demand zone, where in this case, ETH has more than one potential target...
I am seeing:
DMDZ 1 - $1,140 Region (Which can be confirmed and breached further down)
DMDZ 2 - $1,050 Region (Which can be confirmed, with a potential pull back...accumulation and then a breached further down)
DMDZ 3 - $950-$910 Region (Which I predict will be the end of this nice move as far as I can tell from current PA)
I am seeing:
DMDZ 1 - $1,140 Region (Which can be confirmed and breached further down)
DMDZ 2 - $1,050 Region (Which can be confirmed, with a potential pull back...accumulation and then a breached further down)
DMDZ 3 - $950-$910 Region (Which I predict will be the end of this nice move as far as I can tell from current PA)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.