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0:00:00 BitcoinNews.com Ethereum Market Analysis 22nd April 2019
0:00:06 This update is brought to you by “CoinCheckup News Updates” and was originally published on “BitcoinNews.com”.
0:00:12 Well… the weekly candle closed without any special tips and signals about the upcoming possible price movement.
0:00:18 The trading range ETH was 13%.
0:00:21 Buyers have been able to keep the price zone of $155-160 for the second week.
0:00:28 We think that this week should show the true intentions of market participants.
0:00:32 Consolidation in the form of a triangle which started in December 2018 comes to an end.
0:00:38 If we analyze the daily timeframe, then we see that it begins to form a new channel – the fall channel.
0:00:44 The bottom line of this channel is near the price zone of $155-160.
0:00:50 The top trend line is in the range of $176-177.
0:00:56 So, while the price is moving no higher than $176-177, we believe that the initiative is on the side of sellers.
0:01:05 However, this initiative is rather weak.
0:01:08 At a 4-hour timeframe, we see that sellers stopped over the local price zone of $165-168, in which in its turn was a stop for buyers before continuing growth to $179.
0:01:21 However, at the moment, the volume during the present local consolidation is higher.
0:01:26 In wave analysis, we see that since December 2018, 5 correction waves have been formed in the triangle.
0:01:32 We will consider the alternative scenario of continuation of growth after which buyers should break through $177.
0:01:40 We think that before global growth, sellers should test buyers for strength, and buyers should show that they are ready to keep the price.
0:01:46 Therefore, after buyer attempt to grow from December 2018, at least we expect a correction, after which we will analyze the future potential of the market.
0:01:55 We wish you a successful and positive week.
0:01:58 Keep your deposits!
0:01:60 Thanks for watching this video.
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