There are multiple scenarios to Consider All horizontal lines color coded to the scenario:
Scenario 1: Red lines:
- Is the Weekly close is above 1689.2 (20 week moving avg.)
- It would likely continue to the 200 Daily MA , 2085.4
- If it breaks the 200 daily MA, next stop is likely the Anchor Vwap from Pandemic Low, Green moving line
Scenario 2: White Lines:
2 possible Head and shoulders:
* Special note both are sloppy with broken and reclaimed neckline
1st possible:
- Bottom white line is neckline
- Could top out at middle white like which mirrors the left shoulder or it could just fail anywhere around here
2nd possible:
-Same neckline as the 1st, however the top of the shoulder would mirror the left where it touched twice, 3945
Scenario 3:
-The merge plays out as I suggested in a previous post (link at bottom) and ETH would set a new high
(Note: it would over take BTC however crypto as a whole would continue downward)
Anything could happen, While I am bearish on the Overall market Eth is a unique beast....
