✴️ Ethereum & Bitcoin | Three Green Days

15 sept 2023

There is an interesting pattern that tends to show up once a support level is found, before a reversal. In fact, there are multiple patterns that usually follow each other before prices move decidedly in one direction.

This analysis also works for Bitcoin, I saw the same signals on that chart as well.

➖ Ethereum (ETHUSD) Daily Timeframe

Some of the most common and basic reversal signals show up in the form of divergences, in this case a bullish divergence with indicators such as oscillators.

Another common pattern before things change is a double bottom, or multiple drops in the vicinity of the same support level.

The pattern that is most interesting right now are three consecutive days closing green. Each time a support level is found, each time this happened in 2023 we would get 3 green days before major bullish action. In some cases the three green days are part of the major action and most of the time precede massive growth.

✔️ We also saw the breakout ending in a mid-term and long-term higher low.
✔️ We see the two drops, one next to the other without much change in the price level...
✔️ And now, we are clearly seeing 3 green days. The three green days is a major bullish signal and precedes a massive bullish wave.

👉 Ethereum is trading within a rising channel, higher highs and higher lows since June 2022, after 5 months of consolidation, it seems ready to move ahead.

The third green day is about to close, let's see what happens the fourth, fifth and ensuing days... The smaller Altcoins are already booming, some growing even 2,300%.

Namaste.