The price keeps being rejected on the 4 hour 20 MA / 21 EMA and on the RSI 50. On the other hand, we have been holding on an important resistance and a bullish divergence has formed.
The blue horizontal channel represents a ~3 year resistance which flipped to support. For the time being, and as long as we keep above/inside this − and we have for some time now − the long scenario is alive.
So, it's just chopping for now... so we wait.
PS. Never forget that BTC is king and can kick this down pretty easily.
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Et voilà!
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Back inside the descending channel, inside the horizontal channel, and above the 4 hour 20 MA / 21 EMA.