Few possibilities how it can look like! Above 10000 short have no sense anymore!
Because changing sentiment can happen very fast let's make a hypothesis if this happens which levels are important!
One simple calculation + - in correlation: BTC target 8900 prices now 9900 decline 10% ETH Price now 270 if the decline of 10% than the target is 243 but ETH BTC now is 0.0273 and the minimum target is fibo 38.2 around 0.0242 That is 11% extra decline ETH VS BTC so ETH Total decline of about 57 USDT is very possible
We can get a double top also but for a decline, we need BTC decline too!!
Little differences but the same target
For this trade should be not much thinking! Very simple setup!
Be ready for a strong pullback!
I have two incoming scenarios in my head now! I am voting for purple.
Crucial level again!
Shorting is harder than long and riskier especially in the crypto market but maybe we will have an opportunity to short with high probability soon! Target is clear! If you missed short or just don't like to short crypto than long opportunity is possible around 227-230 area
Target reached it is full ready for correction!But BTC must make correction too!
So if you want to short this scenario wait for the breakout and the last wave pulled back under the previous high level and inside of the channel and short it after pullback makes a backtest on previous high or channel line and not before! Because the trend is so strong , we must be very careful and patient to hunt the right moment for shorting this high! Also, be...
Watch BTC and Trade ETH! So BTC is almost at the key level and ETH also! If Some bigger pullback should happen than we are near to the key level. If you remember this from before Now we are here! Take care and have a nice trade!
Sure it can go always higher but ... market never going in one direction!
With all scenarios, we have targets too! I am voting for Short target 1!
Target area around fibo 61.8 + - of all pump wave to the upside!