Ethereum is likely to stay in bid tone through yesterday’s local swing low points but the weekly might face buying exhaustion unless the 2600 level is reclaimed as a support again.
Read in full: https://www.finlogix.com/analysis/20240806/eth-intraday-analysis-and-trading-plan-for-august-6-2024
What excites me is that bulls are able to close the previous week within the range of a problematic yet crucial 78.60% fib retracement level through a symmetrical triangle that is apparently under BTC bulls control!
#US #dollar #DXY index's dominance in the overall #markets has finally given a PoD to the downside after months of holding within the neutral daily symmetrical triangle!
September hopes of #Fed cut rates are getting brighter and the dollar is already sold out.