12 Hour not looking good with a big hidden bear. If given the opportunity, i'll be a buyer in the 1200-1450 range, as that's where the next relative spike in volume is within the POST COVID DUMP volume profile. Although the real heavy buying volume happened much lower than that, in the 300-500 range. I would imagine we'd get some support around the last bull market's major peak should we retest it. 12 period wave trend looking like it will cross bearish soon, depending on where this candle and the next one close. Similar hidden bearish divergences were outlined in a previous post I had looking at the 4hr chart. Curious to see where this all goes, maybe the recent lows around 1700 hold up again if we get there.
Note
Here was my previous idea.
Note
And here was a macro analysis I did on ETH not too long ago, outlining where I think ETH will consolidate should this turn out to be a long extended bear market.
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.
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.