#ETH = Weekly Update = 19.12.2021 $ETH #Ethereum #fintwit #crypto

I was right yesterday when suggested that the bullish Engulfing was not bullish at all. Today ETH made a red candle, perfectly placed below 8 EMA and closed below 100 DMA with the good chances that the decline continues.
The weekly candle is bearish, but the odds are not that strong for various reasons.

The next few weeks will be very interesting. If $ETH closes the month below $3915 ($3906 as I type), it would form a very strong bearish Engulfing on the monthly frame. The consequences could be dire.
While I track possible bullish and bearish paths, the odds are bearish and ETH has higher chances to continue the path on the left.

Beware of the monthly closure.

Good luck!

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