30m chart we broke down as mentioned yesterday after creating lower highs from $6800 then breaking under $6600
Told y’all about 6800 top from the 1D chart last week
ETH short closed (told y’all about the daily descending ): $230 to $210
4h chart had given you a signal few days back that we are on the td 13 top + ichi top
\u2028\u2028Weekly still trapped
Projections: Hover near $6300/6400 for the next 24 hours and retest $6120 support at some point
You can see my call of the 6800 top here and the spill call for downside in this video
Macro outlook. We are coming close to the end of the month and if we close below $6384 we will continue our macro downtrend!
Ranging sideways on the 1h here. You can see the cloud matches our s/r level of $6466 almost exactly. It seems from our first bounce off $6384 to $6466, we've created a lower high since then. If we keep retesting $6366 as support, it may break.
30m chart we've broken under the $6384 support that was clearly holding us up for the last 12 hours. The next strong support is $6120.
Keep in mind that we need to watch the 4h candle closings
Bear flagging on 2h chart right at $6384 support. Red arrow shows potential movement.
The bear flag shown did not break to the downside. Instead, we printed an i h&s pattern which broke up past the $6466 resistance and retested the $6550 area. It now seems we're creating a descending parallel channel. It's hitting the top of the bollinger bands and also printing a 10 so we may expect a slight pull back and then a retest to see if we can break $6550 again. But the higher time frames still show more bearish behavior.
4h chart shows we're hitting the middle bb band + tenkan line. Still within the bounds of the cloud though.
If this rising trend line becomes resistance look for the below fib levels.
Back in the descending parallel channel as well.
Gravestone doji on the 1h chart against the rising yellow trend line and BTC trying hard to escape the descending parallel channel.