ETH weekly equilibrium pattern

3 abr 2022

As you can see in the chart: ETH/USD formed a high, then corrected for a low, set a new higher high, a higher low and what’s next? It’s very probable that we’ll see a lower higher forming on the weekly, under the psychological resistance of 4000, so 3700-3900 range it’s a good area to place short orders. It’s is also possible that our weekly lower high had already been set. So I don’t see opportunities for open swing positions at this moment. On lower time frames you may find opportunities for scalps, but that’s theme for another analysis. For now, I’ll wait for price action to develop.