My "in house" composite index seems to have bottom right at the 88.6% retracement.
Having completed a beautiful bullish wedge, the coming rise in the following weeks should be massive.
A breakdown below the recent lows would invalidate this view.
Bitcoin has been making a base near 5800 over the last few weeks but ETH was lagging and just reached its low, near 166, I believe.
The news that Buterin acknolwedge that Ethereum had to be modified to better capture value was the fundamental news that the market needed (at least in my opinion).
In sync with a finally weakening US dollar (that should reach the 93 area on the DXY), everything is in place for a year end rally in the crypto space.
Having completed a beautiful bullish wedge, the coming rise in the following weeks should be massive.
A breakdown below the recent lows would invalidate this view.
Bitcoin has been making a base near 5800 over the last few weeks but ETH was lagging and just reached its low, near 166, I believe.
The news that Buterin acknolwedge that Ethereum had to be modified to better capture value was the fundamental news that the market needed (at least in my opinion).
In sync with a finally weakening US dollar (that should reach the 93 area on the DXY), everything is in place for a year end rally in the crypto space.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.