Based on the bullish CH on the chart and the formation of higher lows, the structure is bullish on the hourly timeframes.
The market maker has created a wide ranging zone to hunt liquidity. With each drop, it gives traders the impression that sellers have stepped in, but the structure remains bullish on the hourly.
A bearish head and shoulders pattern is also visible (marked in light purple), but in our view, such patterns are ineffective in a bullish structure and mainly serve as liquidity traps.
There is also a small liquidity pool above, where retail traders place their stops behind the wicks, leading to liquidity buildup.
We have marked the zone where strong, real sell orders are located.
As long as the demand zone holds, price can move toward the targets and the marked area.
With all that said, don’t forget risk management it's more important than correctly predicting market direction.
If you would like us to analyze a coin or altcoin for you, first like this post, then comment the name of your altcoin below.
What is your opinion about Ethereum?
The market maker has created a wide ranging zone to hunt liquidity. With each drop, it gives traders the impression that sellers have stepped in, but the structure remains bullish on the hourly.
A bearish head and shoulders pattern is also visible (marked in light purple), but in our view, such patterns are ineffective in a bullish structure and mainly serve as liquidity traps.
There is also a small liquidity pool above, where retail traders place their stops behind the wicks, leading to liquidity buildup.
We have marked the zone where strong, real sell orders are located.
As long as the demand zone holds, price can move toward the targets and the marked area.
With all that said, don’t forget risk management it's more important than correctly predicting market direction.
If you would like us to analyze a coin or altcoin for you, first like this post, then comment the name of your altcoin below.
What is your opinion about Ethereum?
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🔥 We provide signals and analysis on Telegram hourly and daily
t.me/iMoney_T
🔥 Exclusive signals are only published on our Telegram channels.
t.me/iMoney_T
🔥 We provide signals and analysis on Telegram hourly and daily
t.me/iMoney_T
🔥 Exclusive signals are only published on our Telegram channels.
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.
🔥 High profit futures and spot signals are published only on our Telegram
t.me/iMoney_T
🔥 We provide signals and analysis on Telegram hourly and daily
t.me/iMoney_T
🔥 Exclusive signals are only published on our Telegram channels.
t.me/iMoney_T
🔥 We provide signals and analysis on Telegram hourly and daily
t.me/iMoney_T
🔥 Exclusive signals are only published on our Telegram channels.
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.