#Ethereum #ETH #ETHUSDT #MarketRebound
I am noticing how the action is turning weak towards the end of the week. Instead of expecting strongly bullish right on Monday, it might happen on Tuesday. This is now a repeating pattern, but surely something minor not of much relevance.
Ethereum has been choppy since the 21-November low. Quite indecisive yet, higher and higher we go with each passing week.
The body of the current candle trades above the wick of the last candle, and this is a strong bullish signal on its own.
Any close tomorrow above $3,145 would mean the highest close, on a bullish bias, since mid-July. Another important milestone when looking at the chart up-close.
Here I am depicting a strongly bullish scenario which leads straight up to $6,000 and higher, $8,500. For this to be possible I think Ether would need to de-couple from Bitcoin at some point.
Another scenario would be a rise toward $5,800 and then no more. A correction develops lasting several months, say, three months. Then a higher low with prices reaching right around the current level, a price range between $2,800 and $3,100. From this higher low develops a new bullish wave.
This second scenario might be more likely. We are again focusing on the long-term trying to predict several market phases at once. Very hard. Instead, if we focus on the short-term and present market conditions, we are going up. Ethereum will grow until resistance is found, and we will know when it stops growing as it will be clear from the signals coming from the chart.
High bearish volume, a strong rejection, bearish candlestick patterns, marketwide action support a correction, etc.
Right now, we are going up and that's the most important part. We go step by step.
We are live and active with up to 15X.
Thank you for reading.
Namaste.
✅ Trade here on $ETH
