ETH to 2300

2 thg 8, 2021

ETH got hot due to its eip 1559 news, so sell the news :) It can't stay above 0.786 fib level. It has bearish RSI divergence in 4h timeframe.

Also, ETH/BTC is at its resistance level;



Another thing to consider is the drop happened in BTC dominance, and its RSI level is really low so BTC needs some recovery of its dominance;



Invalidation is above 2750.

I would like to hear your opinions, thanks :)

2 thg 8, 2021

Ghi chú

If BTC slowly climbs up to the falling wedge's target then it is possible that we can see ETH price higher. But, at the end, it needs correction sooner or later.

3 thg 8, 2021

Ghi chú

Currently, ETH got its support at 0.618 fib level, if BTC continues dropping ETH will visit 2300 but BTC is likely to bounce from 37.3k which would invalidate ETH going 2300.

Currently, I'm watching this trend line, if it breaks I will look out for some reversal signs/patterns.