A deviation from top of the range got everyone bullish but now it's back inside.
Market structure is still bullish.
If the structure changes then the big support to hold is 3950.
If ETH closes below that we are in for trouble.
For now, the probabilities are low that it will happen.
The probabilities are higher of ETH hitting 5k within a few weeks.
While ETH ranging, other alts are flying like BAT and STORJ.
Let's see how it develops.
Market structure is still bullish.
If the structure changes then the big support to hold is 3950.
If ETH closes below that we are in for trouble.
For now, the probabilities are low that it will happen.
The probabilities are higher of ETH hitting 5k within a few weeks.
While ETH ranging, other alts are flying like BAT and STORJ.
Let's see how it develops.
Comment:
I believe most of the people got surprised by the major drop of the overall crypto market.
ETH rebounded quickly and only lost 2.5% on Decembert 4th.
I got above the weekly, backtested it and is now making it's way back up. I'm still bullish on ETH and still expect an ATH in the coming weeks
ETH rebounded quickly and only lost 2.5% on Decembert 4th.
I got above the weekly, backtested it and is now making it's way back up. I'm still bullish on ETH and still expect an ATH in the coming weeks
Let's see if it can break the local high around 4550