BINANCE:ETHUSDT Hello everyone 😃 Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
There's a solid reaction to the recent formed falling wedge and now #ETH is located at the bottom. I won't expect the pullback right from this point, But I would point out the possible support from current rate; And also as you know, The falling is a bullish breakout pattern... So it's better to be more cautious about #ETH and scout the pair out of the trends !
I'm currently expecting the more downward into the lower Demand on $3000 and the major pull-back the mentioned $4100's resistance zone ! In any other terms I would hold my orders till #ETH got the proper breakout on the mentioned S/R zone.
The apex of this wedge is being beautifully placed into ETH's weekly demand ( marked as Hourly Demand below ). I'm leaning bullish unless there is a structural break on the weekly timeframe. That doesn't mean we need to rush into anything, but I do think the macro downtrend since the highs are almost over. I think the ETH 2.0 narrative will come into play end of January into Feb, which will likely coincide with the shifting in structure and momentum on ETH - where I also expect DeFi to do well.
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