Description
⋅ Hello Traders!
1. This analysis is mixed with various concepts; Elliot Waves, Volume, and Parabolic Movements. Hence the name 'Southall'.
2. The count is clearly stated on the chart. We're following almost the same pattern as we expect in BTC.
3. We see significant volume spikes in the selling zones and less volume in the buying zones. This also indicates the built-up selling pressure.
4. We also see ETH respecting two upward-sloping curves. The indication seems very clear.
5. I see the crypto markets as intrinsically bearish, at least till a new low is made.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
Comment
⋅ We have the expected volume spike and now I suppose the volume is about to break it's previous levels as the market gives an impulse down.
Comment
⋅ Check out how the volume tested the trend drawn and is ready to break it. Intense selling ahead.