SVET Wednesday Update (June 15, 2022)
It has been the turbulent night, as predicated.
As a result, ETH prices have arranged into almost perfect double-bottom formation with a morning-star rising on hourly graphs.
Market scene today was set in three acts:
1) At about 22:00 EST, when HSI started to drop after several hours of growth (CPC hinted on realizing key big-cities population under the house-arrest), Chinese actors decided to first-test 1k resistance level and ETH started its 7 hours spiral to the edge of the abyss.
2) However, at early NY morning (5 AM EST) a spinning-top suddenly appeared on hour-by-hour graphs. Apparently, some part of Asian public, which was soon joined by young amateurs waking up in the depth of North American concrete jungles, decided that it is a good time to make a stand against overwhelming bears attack. As a result, price jumped to 1160 within the next four hours.
3) This bullishness was supported by an unexpected gap-up on NY markets opening. After this gap was closed at about 13.30 PM EST (forming a second leg of W-formation), the next four green candles were printed on hourly charts.
From here we can go three ways:
1) further up to 1300 and then to 1430 (0.5 Fibo) if professionals decide that we have enough momentum rising among amateurs to organize a bear attack from maximum heights;
2) we can enter the 1260–1155 channel to range there until Friday’s (7.45 AM EST) Chairman’s speech;
3) amateurs bulls run might be aggressively dealt with by professionals and whales, which will bring us the second test of 1k soon enough (within 1–2 days).