Hello everyone, colleagues!
Well, as we see, the local upward support was not broken, we bargained along it, made several calls and the price went up again. In previous reviews, I locally expected calls up to $65500-66K, but it reached $66600, slightly short of 200DMA 4H
Now we can safely say that the upward support has been retained and, in general, there is positivity in the crypto markets.
In my opinion, in the next week or two the asset will stagnate in a slight sideways trend at $67,500-69,500 and with preliminary stops moving down to $65K, then it will go to a crossover in the area of $76K-78K. After which it will return below the $71K level and stop in a slight sideways direction, giving alts the opportunity to grow, restraining or reducing their dominance #BTC.D.
One of the positive reasons for growth, in my opinion, against the backdrop of which buyers managed to maintain the upward slope, is the latest news from the USA.
- Coinbase accused the SEC of wanting to “strangle” the crypto industry.
Crypto exchange Coinbase submitted a 36-page report criticizing the US Securities and Exchange Commission (SEC) to the Court of Appeals. Coinbase noted the regulator’s reluctance to develop clear and generally accepted rules for the crypto sector. Exchange lawyers argue that the SEC specifically supports such regulatory conditions.
- Joe Biden vetoed a proposal to repeal SEC Rule SAB 121, which prohibits regulated financial companies from holding cryptocurrency on their balance sheets.
This gives many large financial companies a free hand in relation to cryptocurrencies.
The ETH/BTC pair continues to consolidate above the downward trend after the breakout, from where we expect continued growth and strengthening of Ether if the price does not return back to the downward channel.
1D Ether itself continues to accumulate, holding the level of $3720. I don’t exclude a false call to the area of $3600, with continued growth to the local high of $4100.
More generally, for 1 Week we can stomp around in the current range for another 2-3 weeks in the form of pro-trading and, with an impulse, break through the previous local extreme.
