Technical analysis by lauralea about Symbol ETH: Buy recommendation (2/7/2022)

Possible stop where you see support.Price landed at the .886 for a very brief time with a candle tail.Price broke up for now from what appeared to be another bear flag.No recommendation.The bear flag pattern highlights a trading environment where the supply and demand balance has shifted badly in one direction of the market (supply > demand). In turn, this will produce very little upside retracement, which allows the flag structure to take shape. After the initial selloff, people who missed the train will panic and begin selling. More people will sell it during the flagpole stage.During the pause or the narrow consolidation, people wait to get a higher price so they can sell. But since the supply and demand equation is so imbalanced, this won’t happen. We get another smash that will make many people chase the move to the downside again.This one needs to stay above the flag structure and Not go back inside of it.If you are bearish or bullish long enough, you will eventually be right.