ETH Moving Inside of the Range

My last post i mentioned that blue curved line putting pressure on the price, that if it would break, we should see a counter move. This all played out and even broker the 140 resistance (bitmex), but since it broke that zone, it has been quite weak since. This weakness was not something i expected, but now it looks like a low might have been set. Because earlier today we had a good drop and bounce up again, suggesting longs have been filled and we might see another attempt to break up. With this pattern, that green line should be the max, a drop below that would indicate bulls are not pushing.

We have a range now it seems, between the green and red on the right. With the dropping volume and the whole market being at a turning point now, would mean that if we do break up, we have to see a big rally withing a few days. Like that blue line suggest. So a move towards that 160 zone within 2/3 days and with increasing volume. If this doesn't happen, very likely to see the rally fall short and start to drop again.

If the green on the right breaks, we will very likely see a move to the green on the left. If that one breaks, prices below 100 will be very likely to happen. So nothing clear at this point, need to break that range on the right first.



Previous analysis:

Comment:

It has become clear, that alts simply don't want to move up. With each sideways movement of Bitcoin they start to drop already. This is almost the same as July 2018, where Bitcoin was pumped to 8500 but alts were dropping during that rally. So TA won't work as it should IMO, bears will be mostly in favor when it comes to alt coins. I think i will only look at Bitcoin from now on, until we break the 3930/4100 range. So i would be very careful with longs on alts coins.

That green line seems to be valid and that blue curved line (with some margin as well). Same as LTC, a break upwards will probably show small bullish movement while a break downwards will probably be a dump.