We have two key levels to watch on ETH:
- Either the price reacts upwards on the $2401 level in H4,
- Or it falls further and reacts at the $2,121 Daily level.
Either way, the fall should not last too long.
The longer BTC dominance continues to decline, the more likely it is that Total 2 will break through key resistance levels.
For now, I’m anticipating a retest of the highlighted area, which would support a logical continuation to the upside, in line with the H4 analysis on BTC dominance.
Here’s something interesting on the 4H chart.
We can clearly see that BTC dominance has broken its bullish structure. A retest around 64.50% is likely, followed by a potential 2.60% drop toward 62.50%.
The next Fibonacci extension level for BTC on the Monthly timeframe is between
This target could be reached within three Monthly candles, representing an advance of over 27%.
The next Fibonacci retracement level on BTC in Monthly is between .
This level could be reached in the space of three Monthly candles, with an advance of more than 27%.
