ETH is in a down trend further.
Price below 55 EMA and price going below cloud on 4hr.
I think ETH will test the support zone of 780-800 soon.
Need to see further on support if it bouches back or goes below further.
Wave1 top was almost touching 11k, wave4 can't go below wave1.
Also price already got rejected hard two times around 11k region.
I feel its better to close the short a small profit and be neutral.
Will evaluate further based on price action, but overall trend is bullish to better not to short.
Risk is not worth it.
Taking a short position here and watching very closesly.
I think BTC will should touch the bottom the wedge now. Will see if it bounces or drops further from the rising wedge.
This entire rising wedge might be Wave1 , so overall bullish.
Right now BTC is tring to break key resistance at .38 fib. if it breaks it with volume i think it might test the larger channel again.
if it doesn't break the current resistance it might test .5 fib again. lets wait and watch
BTC is still between the channel since yesterday.
For BTC breakout BTC needs to cross the kumo cloud and close above 15.4k that will be a bullish confirmation.
Right now BTC can again test the resistance at 15.4k and go back down.