Chapter 2 [Dec 23] ETHUSD are expected to be bullish in the next following days？
In today's analysis, we'll be focusing a bit on crypto, most specifically, Ethereum!
![[Dec 23] ETHUSD are expected to be bullish in the next following days？-Pic no.1](https://img.trading.live/prod/image/2021/12/C54CAAC16C2748808484F8E795FE1F5E.jpg)
As seen in the 4 hour chart, the ETHUSD has been in a decline printing Lower Highs and Lower Lows. This has caused the market to print a bearish upper trendline. Last December 15, the market provided a strong impulse to the upside. The price has since then consolidated its way into breaking through the upper trendline.
THE CONFLUENCES
We are expecting a bullish price action in the next following days following the break and retest of the upper trendline and a bounce off the 50 Moving average and 38.2% Fibonacci Retracement level. Price should eventually break through the $4100 key area in which a resistance could be spotted.
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. The above strategies and analysis are provided by the analysts for information purposes only, and do not constitute investment advice.
