Drink back to the crypto world channel everyone my name is josh and right now the price of ethereum is exploding to the downside we've eventually seen the break above this important resistance position and this is setting us up for the coming major move in just a moment i will be revealing my coming ethereum price target so stay tuned for that i will also be looking at some other ethereum patterns and the ethereum.
versus bitcoin map latterly in the artical so surely make sure you are watching all the way to the end so that you are not missing out on any of these important information and just before we jump into it i'd really appreciate it if you could just leave a like on theo articaltape down below and if you are new to the channel you might as well with announcements turn on for further updates like this every single day because it only takes a couple seconds out of your day to click like and.
down below but i really do appreciate all of your support and it helps out the channel so much but anyway with all of that out of the way let's get straight to what this articaltape is about so right then we are on the ethereum to yours bone map on the four hour time frame and as you can see then we have gotten a clear rout to the downside out of this bullish thrusting triangle pattern so obviously the fact that we have eventually broken this resistance sitting at around 3630 roughly this is easily a bullish sign and.
also bringing out the price oscillators right now on the four hour time frame we have seen a strong break above this downcast leaning resistance line that i was talking about history on the channel if you watched my ethereum articaltape history you would formerly know about this but for the new observers on the channel you can indeed go back and look i said in history's updatearticaltape the moment we break this position just then in the rsi which was coming in at around 48 roughly that is.
how you know that the ethereum price is bottoming out and getting ready for its coming major move to the downside and just placing a perpendicular line at exactly where we saw that cross over this resistance line just then in the rsi that was at this exact point just then before we indeed saw this major move and as well i gave you guys this real- time update as we were seeing this over on my twitter indeed before we broke this resistance line at around 3 6 30. so seriously if you are not following me over on my twitter surely make sure you are doing that and the.
link to my sanctioned twitter is in the description down below if you want to get all of these redundant updates throughout the day in real time and the 4-hour macd as well is starting to flip bullish again after a lot of bearish instigation that we have seen over the once couple weeks and obviously that bearish instigation we have seen in these price oscillators over the once one to two weeks has simply just led ethereum into substantially sideways connection during that time period rather than bearish price.
action because of course we're in an uptrend so the bullish price action is easily bigger than any kind of bearish price action that we see in an uptrend but now that these price oscillators are giving the price further instigation to the downside this is great to see this is easily a bullish sign but with that being said we have not really seen too important evidence at least at the time rephotographing this articaltape for this rout and what i'd like to see is immaculately just some further volume coming in then.
but if we do not really see much further volume if the volume stays enough flat also what we'll need to see is are-test of this former line of resistance and flip it into support and formerly again that is coming in at around 3 6 30 if you are looking at the candle bodies then on the four hour time frame but if you are looking at the covers of the candle weeks also it's coming in at more like three six sixty three six seventy so for as long as.
ethereum can now hold above that position just that we are looking really good we do not inescapably need a pretest if we can see the volume start picking up a lot more the pretest is substantially for redundant evidence and it's substantially there for if we do not see important volume and as well when you are looking on the diurnal time frame just zooming out to the diurnal map we can use a diurnal candle close as potentially some further evidence of this rout considering the fact that this pattern.
is visible on the diurnal time frame and of course that pattern that i am talking about then's the inverse head and shoulders pattern that i have been talking about over the once week roughly around one week agone is when i was saying that immaculately we need to see a little bit of bearish press action in the short term and a lot of people did not like that a lot of people allowed that the theorem was crashing but that is where it's important to drone eschewal thanks for reading