As shown in the chart above there might be a H&S Pattern currently forming. This pattern 'can' be reliable in the crypto space, just because many people recognize it. I marked the the price range where you shouldn't open any trades as the "dumb zone". A lack of buyers in this area could eventually send the prices further down.
The current volume on the whole crypto sector suggests that the market should be able to resume its bullish momentum after this correction move. We will probably see clean signals then.
Overall I think the ETHUSD market currently aims for $200, as BTCUSD aims for $10k. Both will act as heavy resistance. I think we need a significant non-technical market event to really clear these lines.
Oh btw: Can anyone tell me, why so many people post this disclaimer 'no financial advice' under their posts. I mean it's pretty obvious that no one is forced to open trades according to the ideas of random users of trading view.
The current volume on the whole crypto sector suggests that the market should be able to resume its bullish momentum after this correction move. We will probably see clean signals then.
Overall I think the ETHUSD market currently aims for $200, as BTCUSD aims for $10k. Both will act as heavy resistance. I think we need a significant non-technical market event to really clear these lines.
Oh btw: Can anyone tell me, why so many people post this disclaimer 'no financial advice' under their posts. I mean it's pretty obvious that no one is forced to open trades according to the ideas of random users of trading view.
RSI fell to oversold territory on 1H, 2H and 4H. RSI of 1D is right in the middle, so it's not capable to give any information right now.
We'll have to wait for new signals.