The current larger time frame trend on ETH is bullish. We had a healthy pull back and we've now formed a local bottom. ETH has broken the range of the last 10 days on the 4 HR chart and it is now possibly forming a support on the top of the channel. If there is an attempt at the recent all time high I believe that ETH will form a support around this area.
The major alternative outcome would be no bounce in the support area shown at which point we could likely be looking at a lower open for the next week.
Being that with some exception ETH mostly follows BTC price action, similar conclusions could be drawn about BTC's chart as well.
The major alternative outcome would be no bounce in the support area shown at which point we could likely be looking at a lower open for the next week.
Being that with some exception ETH mostly follows BTC price action, similar conclusions could be drawn about BTC's chart as well.
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Daily chart has broken the 20 MA and is now testing as support.
This could also be considered a formation of support on the high from back in May.
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Alternative viewpoint, featuring a fractal from the recent drop below
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The weekly remains bullish above the recent open at ~4300, however if it breaks below the weekly candle is likely to retest the 4k range
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Key level breached again, this time it looks like a real breakout to test the top of the range
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Test of the top range has been rejected. Waiting to see if 4500 can hold as support here
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4500 did not hold as seen. A massive cascade of liqudiations has caused a dip to 3450. From here a test of 4000 looks likely.
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4k broke and if the daily finishes like this, it appears there is still uptrend in tact
4k broke and if the daily finishes like this, it appears there is still uptrend in tact
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4K holding support currently
4K holding support currently
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Broke 4k for now.
Bigger picture doesn't appear to be a top yet
Bigger picture doesn't appear to be a top yet
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