11.22 Ethereum 'White Chart Line' Challenge Successful

Challenge the white line drawing of Ethereum

The collapse of Ethereum may start with the following two forms. Assuming that we are the leveraged lender, we use white line drawing to clean up the high-leverage long and short sides and give short pressure, then we will definitely choose to use the "bottom-to-bottom rising channel form"

1. At present, it will fall back to around 3280 to form the support "rising channel point C" and rebound to 3315 to give short pressure, and then start a rapid decline waterfall.

2. At present, it falls back to around 3280 to form support, continue to touch 3410 upwards, and then touch the 3315 support downwards, pull the bottom up to form a "bottom-to-bottom rising channel form", and then rebound to around 3360 to start a rapid decline waterfall.

Because at present, if you draw the top forms such as M head, head and shoulders top, dark cloud cover, symmetrical triangle, etc., it will affect the bullish sentiment and will not give short pressure. Therefore, the only pattern suitable for clearing the market is the "rising channel pattern with a bottom-to-bottom high", and the Carlo clearing rate is not easy to use, because the downward amplitude or the upward amplitude at the top requires 2.68x2, both shorts and longs have given too much profit to both parties, and it is not easy to stabilize the bullish sentiment.

The above content is all assumptions, not necessarily established or appearing, for reference only, do not take it as investment advice.
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