ETH has dropped below the trend line support .
This trend line has now become resistance and if ETH bounces upwards when it hits the 173/161 area ETH may fail to move back above this trend line and can instead drop much lower down.
This move may not play out this way . but its best to be on the lookout for this scenario,
The area at 10600/10500 is strong support , but if that fails to bounce BTC can retry the bounce at 10350 and dead cat bounce upwards to the 11500 mark.
However if BTC is unable to bounce at 10300 and drops lower than 10175 then its heading lower to the 9800/9600 area.
Im expecting BTC is going to dead-cat bounce upwards at the 10500 to 10300 area up to...
BTC looks to be going to lower to the .618 FIB at 7800 with possible stops at 10500 then back up to 11500 then lower to 7800.
if BTC is bullish its going to have to prove it by moving above 12K,
Now I could be wrong here ,but I just don't think BTC is done dropping
yet - and if BTC closes below 11200 then its probably heading to the 10800 to 10300 area.
The .618 Fib at 10300 looks like a prime target.
However if BTC closes back above 11600 ( the green line) then its back to being bullish and heading up higher.
Note : This also appears to be a...