We are in a bullish trend and just need to cool down and think how far ahead we are.
After the poor-performed data of Jan. caused the financial market to pull back, gold, forex, and U.S. stocks made gains of rebound last week. But the crypto, affected by the delayed release of the Silver Gate 10K report, experienced FUD last Friday, and causing dump. This week, Powell will go to the Senate and the House of Representatives to deliver semi-annual monetary policy reports, and on Friday, the NFP data of Feb. will be released. This is the last employment data before the FOMC on Mar.22. and will determine whether the strong data was a surprise or a trend. So the waves may be more violent this week.
After the dump last Friday, the price has fluctuated so far. When bears took a break, the bulls did not strengthen. Trading volumes remain low. Unlike BTC's rise, ETH has been fluctuating since mid-Jan. and has not kept stabilized above its previous high.
Conclusion: There is high probability that the callback is not over. We draw the same conclusion as BTC. Because the long rainbow candle scared the bulls. The price is likely to approach the given support level this week. We maintain last week's support level at 1500 and resistance level at 1790.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
After the poor-performed data of Jan. caused the financial market to pull back, gold, forex, and U.S. stocks made gains of rebound last week. But the crypto, affected by the delayed release of the Silver Gate 10K report, experienced FUD last Friday, and causing dump. This week, Powell will go to the Senate and the House of Representatives to deliver semi-annual monetary policy reports, and on Friday, the NFP data of Feb. will be released. This is the last employment data before the FOMC on Mar.22. and will determine whether the strong data was a surprise or a trend. So the waves may be more violent this week.
After the dump last Friday, the price has fluctuated so far. When bears took a break, the bulls did not strengthen. Trading volumes remain low. Unlike BTC's rise, ETH has been fluctuating since mid-Jan. and has not kept stabilized above its previous high.
Conclusion: There is high probability that the callback is not over. We draw the same conclusion as BTC. Because the long rainbow candle scared the bulls. The price is likely to approach the given support level this week. We maintain last week's support level at 1500 and resistance level at 1790.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
