$ETH

Wow, this is the 4th time ETH is approaching the upper Bollinger Band.. Holding my breath, in 21 days if this month's candle doesn't get cut off, and if there is a correction, please don't break strongly below 3k to start a new cycle like BTC and BNB, my friends 😕

Currently, the monthly candle just touched the upper Bollinger Band (UP ~ 4.335) and still has its head intact — it hasn't been sold back creating a long wick.

The issue is that there are still 21 days left to close the candle, so:

If the price can stay above ~4,200 and there isn't a strong sell-off, the chance of closing the monthly candle with a large body + an intact head will be very high → a clear breakout signal on the monthly timeframe.

But if in the next 21 days there is a correction back to the MB (mid band ~ 2.976) or the EMA21 monthly, then the head of the candle will get cut off and form a pattern similar to previous months (long wick above).

Key levels to watch closely:

4.335 – Upper BB, if it breaks and closes above it will create a “breakout candle.”

4.110 – 4.200 – The area to hold the head of the candle; if it breaks, the probability of getting cut off is much higher.

Similarly, a correction will come soon enough. The issue is whether D3 will break support or not? Coincidentally, it is also the 4100-4200 area? If there are clear reversal signs on H1 and H4, then it will be a good point to add more.