I'm currently observing GALA's short-term downward trend. | Yosh77 on Binance Square

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Bearish

I'm currently observing GALA's short-term downward trend. 

I'm on the lookout for any signs of a breakout before considering an extended position. 

This decision may be confirmed or dismissed within the next few days to weeks, depending on Bitcoin's movement.

$GALA

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$BTC Buyers successfully overturned sellers at the $61,500 support level. The price has finally managed to rise above the bearish institutional bias (EMA 9/EMA 18): Bitcoin's price has returned to the resistance level around $67,000 - March 21, 2024. Bitcoin price against the dollar (4H) The price has returned to the $67,000 resistance level. If this level breaks, the price could rise to $69,500. However, if sellers defend the resistance, a drop to $64,500 is possible. Regardless, a trend with rising lows and highs in the 4-hour timeframe needs to be established. The RSI is currently at the bearish trendline, and a rejection could occur. Similarly, a bullish momentum needs to be regained.

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Breaking News: SEC Issues Warning Regarding Ethereum Amid Consideration as Security Get prepared for a discounted opportunity with $ETH Support Levels: $2600

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$ETH After Ethereum's rejection at the $3500 resistance, sellers have entered the short-selling reload zone. Now, it's back at the $3250 support. Buyers must defend the $3250 support to prevent a drop to $3000. If the price rebounds, a return to $3500 is possible. To avoid further decline, Ethereum needs to bounce off the $3250 support. Breaking through the bearish institutional bias and the $3500 resistance is crucial. A breakout of the bearish trendline could bring bullish volatility.

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$BTC $Bitcoin must react at the $64,500 support level by March 19, 2024. If this support fails, the price may decline towards the next support at $61,500. However, if the support holds, a rebound towards the resistance at $67,000 is possible. Either way, a change in the 4-hour trend is necessary for Bitcoin to regain momentum. The RSI is currently declining below the bearish trendline, but a bullish divergence could occur if the price maintains support and the RSI moves above 50, indicating seller exhaustion.

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$BTC Parabolic trend broken Preparing for correction @Bitcoin

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