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Yesterday, the yellow-haired guy canceled the strike against Iran, and the market soared across the board.
In one hour, it completed the typical daily trend. Respecting the market is the most correct choice.
Currently, Ethereum has formed a 15-minute central zone upgrading from 1601 to 1668, and last night at 8 PM, a breakout followed by a mid-night news-driven rally, all seemed predictable.
It confirms that: there might not be a buy or sell point formation in the 15-minute timeframe before a single line ends the breakout.
Today, the market is again stuck, with a five-minute range between 1666 and 1683 continuing sideways.
A sideways movement after a 15-minute central zone breakout generally indicates a second phase of the trend.
If the five-minute sideways can be maintained, there is hope to break through the 1723 bullish/bearish dividing line.
That would be when the four-hour decline ends and a real rebound begins.
If there’s no update over the weekend, one thing to watch is whether the sideways movement breaks out or not; if it remains sideways, it will be similar to the move on the 26th of last month. $ETH