The attached chart contains the Ethereum price and the CVD indicator.
It was prepared to look at the long-term structure.
At the far left of the structure, you see that the CVD is constantly decreasing as the price rises. And after this decline is over, you can see that the price cannot rise again. In other words, while the price was rising, whales sold and left the market alone. When CVD starts to attack from the bottom, it is seen that although it does not affect the price at first, there are increases afterwards. So we can see the orientation and movement of the smart money. And this smart money continued these purchases until January 2023. What happens next? The price is rising, but the data is always downward, meaning there have been sales since January 2023. With each rise, a little more is sold. Sales made are purchased by the market. But how far? This is the case for now and carries a risk in the medium term. In other words, the far right side of the structure is negative discordance. Same as the discrepancy on the left side, but it was clearer on the left side. The middle of the structure is positive discord. In other words, it is the region where CVD no longer decreases when the price decreases. In the middle of the structure, CVD finally accumulates and turns upwards, now sales continue but there is no accumulation yet. You can follow it yourself and make comments. At the end of the day, if you are trading short term, you have to take price action as your basis. This is only an analysis that may affect your medium-long term forecast. As you can see in the graph, all these processes took an average of 6-12 minutes.
