It was not a bad looking after last Friday test new high 1677, then it did not try to test new high.
As previous analysis:
"Let's watch 1500-1525 could hold or not.
If it could not hold, a further correction might be coming."
A Panic selling after FTX FTT liqudation announcement from Biance today, but volume small.
We obserbed 1500 to 1525 area and it did not hold, market test 50 day MA. (Please see the chart.)
Since it is panic selling: 2 scenario might be developed.
1st Scenario: Seller try dump again: push it to more lower level.
2nd Scenario: Sell the rumor, buy the fact. ETHUSD is not related to FTX, market will pump up quickly, then dump to test 50 day MA again.
2nd Scenario preferable.
As previous analysis:
"Let's watch 1500-1525 could hold or not.
If it could not hold, a further correction might be coming."
A Panic selling after FTX FTT liqudation announcement from Biance today, but volume small.
We obserbed 1500 to 1525 area and it did not hold, market test 50 day MA. (Please see the chart.)
Since it is panic selling: 2 scenario might be developed.
1st Scenario: Seller try dump again: push it to more lower level.
2nd Scenario: Sell the rumor, buy the fact. ETHUSD is not related to FTX, market will pump up quickly, then dump to test 50 day MA again.
2nd Scenario preferable.
הערה:
Yes...Scenario 2! : Pump up quickly, then test 50 days MA!
הערה:
Scenario 2 and then
Scenario 1: Buyers Kill Buyers
Scenario 1: Buyers Kill Buyers
