For the past few weeks since the big drop, ethereum and almost all other coins have been mirroring the moves Bitcoin would make, almost exactly. blue line = ETHUSD candles = BTCUSD However, as of the last few days, Ethereum has started to make its own path again. The dips have been less, and it has been creating more separation each day. Today, as BTC drops...
While ETHUSD and everything else is all basically parallel with what BTC does, these are the corresponding ranges on ETH that I am watching. Swing zone: I guess you could trade back and forth but I'll just watching. Bear Zone: I'll nibble in here, but only deploy ~25% of what I want to buy. Life Jacket Zone: Down here is where I hope to buy. Maybe a slow...
Looks like it is following the pattern nicely. 14k looks like resistance on shorter timeframe, but 13k should be a big pivot point on the 4h chart. A break there and we likely see the move towards sub-10k like a lot of TA seems to be suggesting. Let's see!