Ethereum has trended sideways with Bitcoin most of the month after that volatile Monday morning but it seems like might be playing out this bear flag we have been eyeing the past 2 weeks.
The initial breakdown was a -16.31% and if we project this move to complete the bear flag, we can see prices approach $166, which is almost perfectly aligned with a stop run right under the demand OB. We might not completely dip through this support zone but any entries scaled in this region could be a good spot for a long.
EMAs continue to trend lower and we could still see a pop higher before finally dropping into the demand area.
Thanks guys!
The initial breakdown was a -16.31% and if we project this move to complete the bear flag, we can see prices approach $166, which is almost perfectly aligned with a stop run right under the demand OB. We might not completely dip through this support zone but any entries scaled in this region could be a good spot for a long.
EMAs continue to trend lower and we could still see a pop higher before finally dropping into the demand area.
Thanks guys!