ETHUSD chart reading

ETHUSD chart reading

#ETHUSD reached yellow resistance line.

1) After a fake penetration of yellow line, #ETH market started to act weaker than Total Crypto Index (Blue area). This is confirmation of the weakness concentrated around 155.
2) Mini Trap revealed the unwillingness of bulls to move higher.

Despite clear facts of weakness around 155, we have to pay enough attention to bullish setups. Because we have higher highs and higher lows so far (A-B-C-D).
One of the bullish setup is test of SFDB. It worked well on 27/Nov (point C). Now bulls have a chance to bounce up from the new higher SFDB zone. To-the-moon’ers should hope that bulls will succeed to break above orange line.

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