Ethereum Daily Charting

29 בנוב׳ 2022

Good Tuesday my fellow truth seekers, crypto-traders, bored people, intelligent people, smart people, not so wise people and all that we have in-between.
Good Tuesday everybody, my fellow humans.

It is time to read another chart.

What do we have here?
I know I sound like a broken record but I am sure that you are not reading everything that I share so I can get away with it...

I see another consolidation phase on this chart.
The thing is that ETHUSDT is trading within a higher low compared to June/July, this is a strong give-away.

A chart cannot be bullish printing new lows.
Forget that part...

The volume profile.

The volume on the dates 27-28 Sept.
Followed by 13-October are the giveaway here.

27-September we have an attempt to push prices lower.
We see strong bear volume yet ETH remained within the same range.

Then again in 13-October, we have high bear volume but the candle ended up in a Dragonfly Doji, a bullish candlestick we saw on the NEAR chart and the trading range remained the same.

As the 8-9 Nov. crash came on, the range was broken but the trading volume low.

We see consolidation and bear volume is now completely gone.

New lows and volume going lower... Signals of an upcoming reversal.
This can be consolidation followed by growth.

It is literally what the chart is saying.
I am only translating it for you.

The market can change anytime, that is not the point.

The goal of this information is to assist you in your decision making not to tell what to do or not to do... Whatever you do is up to you, I am doing my part by giving you a different perspective, something different from the rest of the world.

I really don't know because I don't read the news anymore.
I rather focus on learning... What about you?

What is your take?
Do you think we will have a relief rally or straight down again?

Maybe this is all just wishful thinking...
Or maybe the signals are clear and Ethereum will move ahead.

Whatever happens, the market will continue with its high and low, up and down, fear and greed, cycling and producing opportunity for those smart enough to take them.

Namaste.