This analysis is based on equilibrium levels and a special type of precise equilibrium Fibonacci... As you can see, the equilibrium levels are drawn from two ceilings in purple and orange colors... After breaking the main purple zone, the candles are moving towards the middle purple zone, which coincides with the dense area of the support in the range of $ 1200... Ethereum will soon return to the lower dense area in the picture and the middle purple zone... Every top on the Ethereum chart is a bullish trap..!
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Note: My analyses are based on an equilibrium view and personal Fibonacci equilibrium settings... These analyses are based on a macro view of the chart and a big-image view of the market... This view does not take into account temporary and short-term market movements...
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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.