Ethereum bounced from the demand zone twice forming a tweezer bottom BUT was unable to close above the EMAs, which does not bode well for bulls. The support level near the channel bottom and FIB seems to be holding so far but signs of resistance are creeping in.
MACD signal line is trying to crossover bullish and histo has just now turned gree, however, RSI broke down from support and has rejected resistance twice and seems to be heading back down to lower support.
The next few hours will show us where Bitcoin wants to go, which will dictate the rest of the market's movement.
Thanks guys
MACD signal line is trying to crossover bullish and histo has just now turned gree, however, RSI broke down from support and has rejected resistance twice and seems to be heading back down to lower support.
The next few hours will show us where Bitcoin wants to go, which will dictate the rest of the market's movement.
Thanks guys