Hello everyone,
ETH is bullish in my opinion. The daily (BoS) structure is broken. I like that ETH was rejected when it reached the daily supply zone. This was followed by a fall towards the trend line and the daily demand zone, which was located in the discount zone below the 0.5 Fibonacci level. We immediately saw a pull-up from this zone.
I see two possibilities here: ETH will go up immediately, or it will retest the trendline and demand zone in the discount zone before going up from there.
ETH is bullish in my opinion. The daily (BoS) structure is broken. I like that ETH was rejected when it reached the daily supply zone. This was followed by a fall towards the trend line and the daily demand zone, which was located in the discount zone below the 0.5 Fibonacci level. We immediately saw a pull-up from this zone.
I see two possibilities here: ETH will go up immediately, or it will retest the trendline and demand zone in the discount zone before going up from there.