Long

Potential entry on ETHUSD

Updated

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.

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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

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4K holding support currently

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Broke 4k for now.

Bigger picture doesn't appear to be a top yet

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usablewifi

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