New ETH analysis - Back to bull market?
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It looks like ETH is making an attempt to push towards ~3k coming days/next week. Alts are performing pretty decent as well, which is what you want to see for bullish continuation - An overall strong market, not just BTC, so I'm giving this a high chance.
As I said in my BTC analyis, 61k is the level to hold for BTC for the next 2-3 days, for ETH this level would be ~2.7k.
Key level for ETH is around 3.2k (monthy open), if we see this month close above this level, it's a matter of time until we see ETH picking up momentum again heading into september.
3.6k should be a tough nut to break and we could see a higher low around ~3k before going up much higher. So ideally you want to see ETH forming higher lows from now on but once it gets back above 2.8k this would aready be my invalidation level (on a daily close that is).
Still believe ETH is primed for 5-6k+ this year but it will likely be the last leg of this bull market. Don't dare to predict when it's going to happen, but it will surely take another 2-3 months.
So as a trader you basically just let your positions ride at this point. Any entry below 2.8k is quite decent, so don't worry if you didn't catch the bottom of the flush we saw few weeks ago.
Stay safe!
As I said in my BTC analyis, 61k is the level to hold for BTC for the next 2-3 days, for ETH this level would be ~2.7k.
Key level for ETH is around 3.2k (monthy open), if we see this month close above this level, it's a matter of time until we see ETH picking up momentum again heading into september.
3.6k should be a tough nut to break and we could see a higher low around ~3k before going up much higher. So ideally you want to see ETH forming higher lows from now on but once it gets back above 2.8k this would aready be my invalidation level (on a daily close that is).
Still believe ETH is primed for 5-6k+ this year but it will likely be the last leg of this bull market. Don't dare to predict when it's going to happen, but it will surely take another 2-3 months.
So as a trader you basically just let your positions ride at this point. Any entry below 2.8k is quite decent, so don't worry if you didn't catch the bottom of the flush we saw few weeks ago.
Stay safe!
Nota
For reference look at the move that happened on the 20th of may, if it's super bullish we could see something like that again :)Dagangan aktif
Started buying here. Really a must hold level for me. Overall market looks good, healthy correction. Nota
Quite the dip, unexected. I'm underwater but added to my position at ~2600 and below.
2560$ REALLY should hold, don't want to see a daily close below.
Nota
What's really absurd is, that this dip only happened for ETH. Everything else more or less held ground.
Trading ETH became extremely frustrating after the switch to POS (2.0) in my opinion, not sure it that's the reason, but ETH is kind of missing lots of it's glory we have seen 2016-2018.
Nota
Hm, bulls really miss out on a chance here, risk/reward is definitely in their favor but it seems no one wants to step in. Nota
What a mess. Back in the range. Just got to love this market, does whater it wants anyway.
So we probably continue to chop between 2400-2700 for the next days. Think we wont see a move until sepetember.
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