If ETH can break above 2450$ and IF we have volume to comfirm that a breakout, the price action will probably lead to the dashed lines.
ETH broke it's huge ASCENDING TRIANGLE and TESTED it back, if this higher low holds on the 4H timeframe then I expect a nice bounce to the upside.
FIBONACCI LEVELS-------> exactly matches with the resistances above!!
I assume we are in a chart pattern called "W" chape pattern and I found and intresting similarity with the recent wawe IN THE 4 HOUR timeframe from the date of 16.06.2021 to 22.06.2021 highlighted with the ellipse.
I mirrored the candle moves on that down wawe and it is 95% similar to the up wawe!
It's just an interesting idea, les's see the outcome in the...
We can see the fibonacci retracement levels are showing realistic numbers for a bigger dump to 20K after a nice pullback to the upside right around in the coming weeks.
There is a TRAP zone between the 0,618 (51000$) and 0,5 (46800$)
IIF bitcoin is able to go above the red channel (bull market barrier) then it was just a correction and we go bull again most...