Hey guys, ETH bulls didn't managed to hold the 4H lows yesterday. We have now touched on the 61.8% fibo level, where ETH is currently trying to form its new higher higher low.
Both on the 4H & 1H we're currently under the EMAs. So -the ETH bulls have still some work to do here.
More important: In the ETH/BTC direct correlation we're now at the daily low at 0,071 -if we negate this, it means that we need to form another low until 0,055 -otherwise the weekly equilibrium will be broken with certainty. In any case, that ETH bulls need to hold the 0,071 direct correlation with BTC, in order to stay relatively strong.
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About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC
Both on the 4H & 1H we're currently under the EMAs. So -the ETH bulls have still some work to do here.
More important: In the ETH/BTC direct correlation we're now at the daily low at 0,071 -if we negate this, it means that we need to form another low until 0,055 -otherwise the weekly equilibrium will be broken with certainty. In any case, that ETH bulls need to hold the 0,071 direct correlation with BTC, in order to stay relatively strong.
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;) (description in my status)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC