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As the pattern, ETH could go to 1200 area.
It seems some bearish power still remained.
For the bullish, the market should show some clear symptoms.
Good day
As the pattern, ETH could go to 1200 area.
It seems some bearish power still remained.
For the bullish, the market should show some clear symptoms.
Note
H4 chartSee how EMA10, 20 act as a dynamic resistance.
Note
H1 chartIf you pay attention to the last swing from where market down with 6 black candles, begin to go higher and make a new high.
After breaking the EMA10 and 20 with a powerful bullish candle, it can't continue and made several candles with long upper wicks that show resistance there.
I think the market try to make a new lower low.
The resistance that the market should break to begin the bullish movement is 1570. and it should make an H1 candle close above the level.
Note
1370 is the first step to confirm the scenario.
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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.