ETHUSD - Trend pause or trend reversal
Updated
Similar although not as bullish as my previous idea (link in related ideas below), ETHUSD's weekly candle has closed as a small indecision HA candle.
This usually means either a need for a pause of the current trend, in this case bearish, or the beginning of a trend reversal.
Given the early signs shown in other alts of indecision or beginning of trend reversals I'm leaning cautiously bullish.
A solid green weekly HA bar for this week would confirm the trend reversal and hopefully the beginning of a new rally.
This usually means either a need for a pause of the current trend, in this case bearish, or the beginning of a trend reversal.
Given the early signs shown in other alts of indecision or beginning of trend reversals I'm leaning cautiously bullish.
A solid green weekly HA bar for this week would confirm the trend reversal and hopefully the beginning of a new rally.
Note
As mentioned last week we needed a solid green weekly HA bar to confirm the trend reversal and that is exactly what we got. Currently in the smaller time frames we can see a pullback starting to take place. We have multiple support zones all the way down to 185-180 support zone which would be the key one to hold in order for the structure to remain bullish.
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