$ETH Friday Er Bing Analysis



The current price is running below the middle band, having entered the weak zone as defined by the indicator. The upper band is turning downward, and the upward slope of the middle band continues to narrow and flatten, indicating that the momentum of this mid-term rally has essentially exhausted.

The Bollinger Band bandwidth is simultaneously contracting. As volatility decreases, the price center continues to shift downward, which is a typical early-stage characteristic of a top formation followed by a pullback. After that, the price is likely to return toward the lower Bollinger Band.

Trading outlook: stay flat/short in the 1755-1765 range; targets are 1720-1710.
ETH2.64%
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ThereIsAChainInTheReflection.
· 57m ago
The middle band flattening is indeed a dangerous signal, I'll wait for this short.
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