Quick Markup with fundamental and technical analysis
As the crypto market continues to grow by the 10s of billions weekly, Ethereum has been right along side bitcoin , pushing for more and more new tops with what seems like no hope for breakouts to the downside next week. Watch for a break and retest of this $1,600 zone. If the bulls are unable to keep up the momentum, watch for a 2 try trap above the range before price collapses down. Otherwise we could see the bulls make a strong run up to retest that 1750 1800 target now that it is a new day and a new week. Remember, the ranges above price at the moment are acting like a magnet. On our 1hr chart. We have touched our golden fibonacci zones which is why we are now waiting for a jump off the moving averages below. I don't like to expect anything because that will give me a false sense of reality and bias to a certain direction. A trader must always understand all possibilities in the price of the instrument being traded, whether the bulls or the bears are in charge. That being said, my fundamental research is making it seem like ETH will become the new BTC this new decade.
As the crypto market continues to grow by the 10s of billions weekly, Ethereum has been right along side bitcoin , pushing for more and more new tops with what seems like no hope for breakouts to the downside next week. Watch for a break and retest of this $1,600 zone. If the bulls are unable to keep up the momentum, watch for a 2 try trap above the range before price collapses down. Otherwise we could see the bulls make a strong run up to retest that 1750 1800 target now that it is a new day and a new week. Remember, the ranges above price at the moment are acting like a magnet. On our 1hr chart. We have touched our golden fibonacci zones which is why we are now waiting for a jump off the moving averages below. I don't like to expect anything because that will give me a false sense of reality and bias to a certain direction. A trader must always understand all possibilities in the price of the instrument being traded, whether the bulls or the bears are in charge. That being said, my fundamental research is making it seem like ETH will become the new BTC this new decade.