dRends35

ETHEREUM - Coil or Triangle, Regression or Accumulation

dRends35 업데이트됨   
BITSTAMP:ETHUSD   이더리움
To draw a fractal with most touches, ETH can be seen to be in a tight coil currently. A quick browse on TV and many publishers have been showing a horizontal top to this current pattern to form an ascending triangle. Without considering volume, if that were true then this would probably be an accumulation pattern with each successive touch weakening the upper trendline.

However that is not what is happening. Each bounce has retraced just past 0.886 retracement which means price is regressive not accumulative.

ETH price is certainly interesting how it coils in this way - holding a very narrow price band. Tightening price leads to explosive impulses with buyers and sellers becoming trapped and pressure building. This may be similar to the trapped price of SOW / AR - See my Wyckoff thread for details.

Expecting an explosive move to the downside after price drifts sideways.

Not advice.
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Part 1 video uploaded 9 June.

Is the bond market / FED pivot going to rock stocks and crypto 💀?

Crypto focus video coming soon😼.

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