Salute, colleagues!
6H So, if we look at the trajectory of the expected movement drawn by me in the last review (see the video on our YouTube channel or in TradingView), then the first part of the expectations has already begun to work out. For now, the $59,500-61K range remains key resistance. Locally we can reach $62K-63K, where there is 200DMA on three TFs 4H, 6H and 8H, also as resistance. More generally, I expect another strait and an update to the nearest bottom at the beginning of this month (level $53,550). In general, I am for shorts, but with TVX at the above levels.
The value of the Fear and Greed Index today is 29, and this indicates that players are tired of the long wait for growth and the altseason. No one knows whether this altseason will happen or not, but, as history shows, in such phases and moments the market gets rid of “weak hands” that lack patience.
1D Ether paired with the cue ball looks much stronger, like the last few weeks, and the price continues to move within the triangle (the spring is compressed), from where I expect an exit to the top. The breakdown of the downward trend will occur above the $0.06 level, and its confirmation will be a correction of the impulse wave by 50-60% Fibonacci, followed by growth. We are waiting for positive news on the market, if any.
In the near future we may still go down to the inclined support (~$0.052) within the framework of the “Triangle” pattern
The way out of it to the top will most likely be in the 4th quarter, maximum at the end of the 3rd, together with other alts.
All you have to do is be patient, which is what we wish for you.
