ETH has been very closely correlated to BTC in recent months and it appears to be slightly lagging behind the strong moves and breakouts that Bitcoin has presented. ETH remains a strong favourite to retest previous structure highs in and around 2042.
Swing traders had an excellent trade recently after a clear reaction from the 382 Fibonacci level triggered the bulls. We took this north through resistance and look for further breaks above 2000.
What also gives us further confidence in this is the confluence on the 382 extension which matches up perfectly with the previous high. However, 382 fib predicts a 618 extension.....
Buy those dips and wait for a break before going north.
Swing traders had an excellent trade recently after a clear reaction from the 382 Fibonacci level triggered the bulls. We took this north through resistance and look for further breaks above 2000.
What also gives us further confidence in this is the confluence on the 382 extension which matches up perfectly with the previous high. However, 382 fib predicts a 618 extension.....
Buy those dips and wait for a break before going north.
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