The weekly chart looks bad, as the price has broken the global support line. The price also made a short squeeze which indicates a set of high liquidity for sales at the top and the exit of large capital.
ETH now does not look very good for continuing the previously taken growth trend, however, the whole prospect is ahead. 21 MA takes on the role of super support for this asset, and right now the price is trying to find this support.
Price tested 21 MA. This moving is in the role of support in the bull market and in the role of resistance in the bear market. This time, we observe how the price broke through this moving after the bear and is held above it.
At the moment, the chart looks pretty bearish, the trend line is broken and right now its price is testing in the role of resistance. I can assume that if all the same, the price does not overcome this resistance, the price will go down to test support levels.
The EOS market is actually enough at a certain time gives a predictable result. And so, at the moment I see the possibility of long, so if now the price overcomes 200MA 1H, we can experience a fairly powerful steady impulse. This is an important resistance at the moment.
And so, I can almost confirm the fact that on February 19 BTC will make the bullish event GOLDEN CROSS. It is very good that the correction happened a little earlier than this event, allowing the market players to cool down a bit and gain new strength for further growth
At 4 hours timeframe, there is an upward Fibo channel with 28 degrees of inclination. Now the price is testing the lower boundary of the channel, if it can withstand and the channel does not break, the price will recover and continue the upward movement within the channel.
This graph does not look bad considering the 25 degree bullish move, however, in order to accurately build the FIBO trend channel, at least one more pivot point is required at a minimum within the uptrend
I expect that the current impulse will reach $11500 and then there will be a correction to the level of $9500 after which the price will test the breakthrough of the global triangle before halving.
However, there may not be a strong impulse from the marks of $9500, and this impulse may come from when the price will test the price of $11500 from above, thereby...