Cracking the Code: Nailing $ETH's Recent Price Action

Happy Saturday to everyone! I hope you all had a fantastic week. This week, I challenge you to try something new and step out of your comfort zone. Doing so has not only helped me feel better but has also enabled me to become a better person in my daily life.

In today's post, we will discuss the recent price action of $ETH and $BTC and how we successfully predicted and capitalized on this movement in our newsletter.

Let’s dive in.

The Lows - Predicting The Future

On May 11th, I posted a chart inside The Tribe Discord, discussing how the recent "bull run" that people were referring to was not a genuine run, and we could expect a pullback. Additionally, a month before this date, when $ETH was breaking highs towards $2,000+, I stated, "I still think this is a trap, and we aren't in a full-on bull market. Just like last year during this time, we had a run-up, but the overall volume was pretty low and decreasing. We're facing a similar situation here... We're experiencing a run-up, but the volume has been very low and decreasing."

Going back to the chart above, you may notice a pattern here. During an early run-up, we experienced a significant liquidity/sell stop sweep below the first line drawn. Now, let's take a look at our current chart.

What a surprise... We witnessed the same exact price action. It's as if we predicted the future! Jokes aside, this downtrend move aligned perfectly with what we've been discussing. The price was increasing, while the volume and fundamentals were not looking so good.

But what about Bitcoin?

If you had taken the time to read my first post in this newsletter, you would have noticed the upward and downward moves in our specified zone. Now, let's compare the chart we posted then to the current one.

As you can see, the chart we posted in our first post highlighted a consistent downtrend with no significant higher wicks to the upside. This indicated to us that there might be a potential upward push to eliminate the short traders before heading towards the lower end of our range, which was around 25k.

Now, let's examine our current chart...

Wow, would you look at that? We witnessed the higher wick move that surpassed the previous higher wick, followed by a downward trend to test our initial support range.

This post is not solely about boasting about our market domination in the past few weeks. Its purpose is to educate YOU, the reader, on how and why these markets operate.

Conclusion

Today's article was brief, but I believe it is crucial to reflect on what we have recently discussed. Stay vigilant for my next post, where we will delve into the trading mentality and explore the reasons behind the failure of most traders.

Always remember, there is no reason to force a trade. Let the market come to you..

I hope the above content has provided you with a better understanding of the overall market. If you have any questions, feel free to DM me on Twitter @TheOnlyNotice!