Ethereum Analysis (ETH/USD)
THURSDAY
13-JUN
Price broke out of the range y'day and reached the D1 sell zone around the swing high of last week (LW).
Further upside LQ could be found above LW high and at the moment it seems like the most likely target.
It's important to see how price reacts from the $250 S/R level if it reaches it.
If it provides support then price will likely continue with its bullish momentum.
On LTF, price reached the current range EQ which coincides with the D1 sell zone.
If price gets below $250, then it's likely that y'day's move up was a bull trap and further downside could be expected.
Nice analysis. Simple but profound. Thanks for that. I would be following.
Thank you. I'm glad to hear that.