Fib Retracement placed on 1h candles. Volume Profile confirms that this .786 level could be new support for the time being. We will have to see in the next 4.5hr; 1) if this next 4h candle can close at or above .786, 2) If the 1D candle also does, then look for an eventual 569-550 bounce off those other Fib levels. I'm long on Eth and think we might see and ATH Q1-Q2, but this could be dependent on DOT and if we can see more interest in De-Fi. Google Trends indicate that Ethereum is trending as much as it was over the Summer, so this is a time to be more bullish than bearish. I would see those bounces as shake-offs, but it's also very important to consider the moves on BTC as well as the S&P/DOW as we move into the closing of Q4 on 2020.
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Alternative bounce off 569 must hold as predicted. A convincing bounce off of 555-550 could mean go long, but falling from 569 under 555 may mean more blood to come for bulls.
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Pretty happy with the bounce off 567. Solid 4 bar 1h structure formed that I think Ethereum will build off as long as BTC continues moving upward.