Scenario A (BULLISH): 2022 yearly open is at $3670. This level will be BIG resistance. Safest strategy is to sell into the resistance even though it will look very bullish if price gets there. It will provide a good opportunity to buy back the test of the then support above $2800
Scenario B (BEARISH); Taking a short on the test of the bearish momentum. This is for the experienced trader as you would have to hide your stop above $3170. Your goal would be to track the momentum down to the start of the investor DCA (Dollar Cost Average) range. Eth on the 12 hour supports this game plan as its already setting up for bearish divergence.
ETH large timeframe shows signs of an Adam and Eve pattern and those are renown for being reversal patterns. Supporting factors for this will be rising volume as price reaches the lower range (DCA Range) @$1922. The jury is still out on that and we will have to wait and see how the next week plays out to update.
