ETH Targets and Thoughts
Long Bias
We finally got to see what could've been the pullback we were waiting in the HTF by having Eth make a solid bounce from the 0.23 fibb level which can be taken as a bullish signal for a continuation of the uptrend by effectively making a HL and also fixing the EMA death cross with a golden one in the 4h TF, since in a uptrend EMA are relevant targets for entries i would keep an eye on the 14 and 40 EMA on the 4h and daily as potential entries especially if they show confluence with other S/R or OB's.
Short Bias
While still having a strong case for uptrend continuation the fact is we haven't been able to defeat the green OB resistance and this would be our 4th attempt at doing so, ETH also has been becoming bearishly divergent from btc since the last peak was a HH in BTC but a LH in ETH if the current pump were to continue without any rest i would expect a strong rejection from the top of the OB box and would place it as a short target, if we however where to consolidate inside or bellow the green box i would consider more probable for a bull flag to form and as such more viable to short the OB above the green box.
We finally got to see what could've been the pullback we were waiting in the HTF by having Eth make a solid bounce from the 0.23 fibb level which can be taken as a bullish signal for a continuation of the uptrend by effectively making a HL and also fixing the EMA death cross with a golden one in the 4h TF, since in a uptrend EMA are relevant targets for entries i would keep an eye on the 14 and 40 EMA on the 4h and daily as potential entries especially if they show confluence with other S/R or OB's.
Short Bias
While still having a strong case for uptrend continuation the fact is we haven't been able to defeat the green OB resistance and this would be our 4th attempt at doing so, ETH also has been becoming bearishly divergent from btc since the last peak was a HH in BTC but a LH in ETH if the current pump were to continue without any rest i would expect a strong rejection from the top of the OB box and would place it as a short target, if we however where to consolidate inside or bellow the green box i would consider more probable for a bull flag to form and as such more viable to short the OB above the green box.
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