Sure. Looking at ETH daily chart does not make much difference than the 4-Hr chart since the bull run was so big that it pretty much looks the same, but the 4-Hr chart has more granularity (detail). Forgot to plot fibonacci levels, maybe I do that in a separate post tomorrow. But a quick view tells me that unless it first breaks above 237 today and hold above 260 in the next couple of days, there is a potential of hanging around at the bottom which is not a good sign. It can still be okay if the bottom today holds, but should not be lingering in this area. You see the cyan bubble? That means low value node in volume profile terms. It means where price did not stay for too long; it can act as both S/R, in this case is resistance. If it holds above 260, most likely it won't stay there for too long as it will look for the next higher point of control, which is the next spike higher in the chart. The spikes mean balance areas, and act as magnets. Price tends to travel toward magnet areas, the larger they are the most attractive they become as far as price agreement between buyers and sellers :) hope this helps. A bit.
Sure. Looking at ETH daily chart does not make much difference than the 4-Hr chart since the bull run was so big that it pretty much looks the same, but the 4-Hr chart has more granularity (detail). Forgot to plot fibonacci levels, maybe I do that in a separate post tomorrow. But a quick view tells me that unless it first breaks above 237 today and hold above 260 in the next couple of days, there is a potential of hanging around at the bottom which is not a good sign. It can still be okay if the bottom today holds, but should not be lingering in this area. You see the cyan bubble? That means low value node in volume profile terms. It means where price did not stay for too long; it can act as both S/R, in this case is resistance. If it holds above 260, most likely it won't stay there for too long as it will look for the next higher point of control, which is the next spike higher in the chart. The spikes mean balance areas, and act as magnets. Price tends to travel toward magnet areas, the larger they are the most attractive they become as far as price agreement between buyers and sellers :) hope this helps. A bit.