ETHUSD, expecting range play (consolidation) levels on 1H
After catching the (very) bottom placing bids near the RealTime Subtractive (orange flat line), the 1H cloud is now acting as resistance for ETH.
I expect this range to play out similar to the last break-down from the 1Hour cloud. I believe ETH will wick through 1H cloud body, finding support on RealTime, and then consolidation upwards with peaks towards 212 or perhaps slightly above.
The Hourly is proving to be a very valid timeframe to watch for ETH, so break-ups and tests on support should be played on this timeframe to improve the odds of being on the winning side of a trade during the range play over next weeks.
I expect this range to play out similar to the last break-down from the 1Hour cloud. I believe ETH will wick through 1H cloud body, finding support on RealTime, and then consolidation upwards with peaks towards 212 or perhaps slightly above.
The Hourly is proving to be a very valid timeframe to watch for ETH, so break-ups and tests on support should be played on this timeframe to improve the odds of being on the winning side of a trade during the range play over next weeks.
Comment:
ETH looks like it want to continue the run. Currently flat, but I believe this is worth re-longing.
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