We are seeing lower highs and lower lows on the 4 hour chart as we approach the low of the dump for ETH.
At this point the bears are very comfortable and have all the momentum.
The bulls have to change the 4 hour trend, and have to break the high of this bounce so far for it to do anything for the reversal.
Things are not looking good for the bulls right now with their backs against the wall and momentum against them.
If you are bullish ETH and patient... wait for a daily or weekly trend change before establishing a long term position.
We could easily continue down with this current setup.
Bears are making entries at 4 hour EMA resistance.
At this point the bears are very comfortable and have all the momentum.
The bulls have to change the 4 hour trend, and have to break the high of this bounce so far for it to do anything for the reversal.
Things are not looking good for the bulls right now with their backs against the wall and momentum against them.
If you are bullish ETH and patient... wait for a daily or weekly trend change before establishing a long term position.
We could easily continue down with this current setup.
Bears are making entries at 4 hour EMA resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.