The current correction scenario with key price levels were outlined in my previous post - thank you for positive feedback. This time I have updated key levels, and would like to draw your attention to the pitchfork, which proved to be the best possible price channel for this short-term downtrend. As long as price stays within it, the correction is not over, even though minimum retracement criteria have been met. I will soon update on the ETHBTC pair, as it presents a tradable opportunity.
Komen
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Detailed intraday levels below. Bullish odds to increase if price breaks $363. If it goes below $338, there is risk of more downside below $320:
People are used to thinking that crypocurrencies do not correlate with other markets. But for me it's obvious that yesterday's hawkish statement from the Federal Reserve bolstered up the dollar, and led to risk-aversion tendencies across a wide spectrum of assets. In the short-term, at least.
VoidBank
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@Nickonomics, We can all learn something from you. Thank you!
axdimensions
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We've touched $350 and back in 330s - does that mean we can expect some correction or is it the bullish pattern developing strong?
Nickonomics
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@axdimensions, it is difficult to tell now. You can see that price is stuck between two fib levels. The general direction is up, last buy point was @320.
ethamphetamine
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High quality work here Nick, thank you
enoch87
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so if this breaks like $325 we are going to see upward movement, otherwise we bleed slowly?