Pretty high TD count (8 - may still have margin) and a falling wedge running on long term trendline.
Moreover, close to historical strong support, just below the 40$ mark.
Given that, bias is towards bottoming and bounce towards 43-44 area at first.
Not excluding a further pullback to previous ascending channel.
That's tricky though, as further Ethereum merge rumors / news may play a huge role.
They were crucial already for the breakdown of the ascending channel and now static support is relatively close.
This is a very technical and delicate market phase.
We have to get used to that and act accordingly,
Prepare for volatility, have liquidity at hand.
More to come.
Moreover, close to historical strong support, just below the 40$ mark.
Given that, bias is towards bottoming and bounce towards 43-44 area at first.
Not excluding a further pullback to previous ascending channel.
That's tricky though, as further Ethereum merge rumors / news may play a huge role.
They were crucial already for the breakdown of the ascending channel and now static support is relatively close.
This is a very technical and delicate market phase.
We have to get used to that and act accordingly,
Prepare for volatility, have liquidity at hand.
More to come.
Comment:
Comment:
Hmmm ... lowet level in dominance since 2018.
All that *ahead* of merge.
This is fishy.
As you see from TD count span situation is extremely fragile.
All that *ahead* of merge.
This is fishy.
As you see from TD count span situation is extremely fragile.
Comment:
Bouncing, albeit pretty late:
Comment:
Over 42, but it took ages.
Comment:
Pretty neat and clean chart though.
At resistance now.
At resistance now.
Comment:
43 reached, finally.
Bounce expected, unless ETH rumors come into play.