ETH - next week will be important
We are still in a weekly downtrend channel but we are also touching a strong horizontal support (in blue). We can also draw the center of the downtrend channel and considered its effect on prices.
Since 18 December, we entered in a small ascending channel and tonight we tried to go over the upper edge but without success. We can see higher lows and higher highs.
It’s interesting to note that no weekly candle has completed below the horizontal support (blue) and the important value of 130$; Even the last week of 2019. The last 3 weekly candles were: 1 hammer and 2 doji (a kind of).
Next week could bring important info for my MT scenario. If the weekly candle close above 140$; it’s highly possible that we will quickly touch the top of the large downtrend channel. At the opposite side, if we close below 130$; I’m sure we will quickly test the bottom of the downtrend channel (+/- 110$).
Honestly, I can't give more than a 50/50. No real info from the volume chart, wait & see
Since 18 December, we entered in a small ascending channel and tonight we tried to go over the upper edge but without success. We can see higher lows and higher highs.
It’s interesting to note that no weekly candle has completed below the horizontal support (blue) and the important value of 130$; Even the last week of 2019. The last 3 weekly candles were: 1 hammer and 2 doji (a kind of).
Next week could bring important info for my MT scenario. If the weekly candle close above 140$; it’s highly possible that we will quickly touch the top of the large downtrend channel. At the opposite side, if we close below 130$; I’m sure we will quickly test the bottom of the downtrend channel (+/- 110$).
Honestly, I can't give more than a 50/50. No real info from the volume chart, wait & see
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