Ethereum is looking weak, we are in a delicate position at this moment. We ducked below the .618 at 191, broke below the daily 200 MA, not only that but we are on a fast track to a death cross on the 1D. As far as market cypher goes the daily VWAP is currently crossed down (not a good sign) if we close this low we could be headed back down once again.
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Now that’s what I like to see. I opened a long at 186 because of a trigger wave on market cypher. We’re on the fib level if like to see us hold this as support then continue higher
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The fib is holding support for now. Yellow x’s on the 1D is a bad sign. Death cross still on course. Maybe we test the next fib as resistance then further down we go.
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Now that I think about it if we can’t get above that 200 MA then we’re in a very bearish trend