ETH Update
After a bullish impulse according to the classics, we are seeing a correction into the 0.5-0.618 Fibonacci zone. In case of FUD dump or any negative news, we might see a drop below the support level of $3250, but further decline is currently doubtful. I’m waiting for a clear reversal formation and a new high, after which we can expect a subsequent rise with a break above the $4500 level and an attempt to test the ATH. The 100 EMA acts as a trend indicator for us. As you can see, the price touched the line at the current values and immediately rebounded, which can be seen as a bullish sign. 📈
Locally, it's definitely just the beginning of the bull run, and all the action with the ATH update and alt season will start immediately after BTC breaks out of the sideways movement to the upside. 🚀
