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Consolidation above the $ 212.75 support level will now be formed. When it is formed, the mood of buyers and sellers in the market and the next steps will be visible.
If buyers fix the price above the support level of $ 212.75, then the price will rise to the support level of $ 235 and above. There are reasons for this. As can be seen on Bitcoin formed GEP. And this means that when Bitcoin closes the GAP (ie, grow to the starting point of the break), it will entail Ethereum. It also shows a double bottom on the CCI indicator, indicating further growth. Another factor is that the price is far from the Moving Averages, which means that it (the price) must rise to the Moving Averages.
Otherwise, if sellers show more power in the market and the price is fixed below the $ 213 support level, the price will continue to decrease to the support level of $ 192.
_________________________________________
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Consolidation above the $ 212.75 support level will now be formed. When it is formed, the mood of buyers and sellers in the market and the next steps will be visible.
If buyers fix the price above the support level of $ 212.75, then the price will rise to the support level of $ 235 and above. There are reasons for this. As can be seen on Bitcoin formed GEP. And this means that when Bitcoin closes the GAP (ie, grow to the starting point of the break), it will entail Ethereum. It also shows a double bottom on the CCI indicator, indicating further growth. Another factor is that the price is far from the Moving Averages, which means that it (the price) must rise to the Moving Averages.
Otherwise, if sellers show more power in the market and the price is fixed below the $ 213 support level, the price will continue to decrease to the support level of $ 192.
_________________________________________
This analysis and more in our Telegram channel.
Also, don't forget to visit our profile.
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.
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.