Hello Traders and Investors, my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum💪
If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are starting the next major bullish crypto cycle.
With Ethereum once again retesting massive weekly structure which is now acting as strong support I do expect another weekly bullish bounce from here.
Finally you can see that Ethereum is creating bearish market structure on the daily timeframe so it is best to wait for some reversal before a weekly and monthly bounce will be quite likely.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!