🔥 Ethereum Fibonacci Reversal: Higher-Low Confirmed
ETH is seeing a strong bullish impulse after reaching the 0.618 Fibonacci retracement level. This level is classically a strong area of support where higher-lows get put in.
From here onwards, I think we can see more bullish price action in the short term. Targets placed at $3200 and $3500 for the coming two weeks.
Since a macro trend reversal has not yet occurred on BTC's daily chart, I'm not convinced that we're going to see ETH trading above
4K yet in the near future. For that to occur I want to a higher high for both BTC and the NASDAQ.
Happy trading!
From here onwards, I think we can see more bullish price action in the short term. Targets placed at $3200 and $3500 for the coming two weeks.
Since a macro trend reversal has not yet occurred on BTC's daily chart, I'm not convinced that we're going to see ETH trading above
4K yet in the near future. For that to occur I want to a higher high for both BTC and the NASDAQ.Happy trading!
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