Considering the pressure of BTC on other commodities that dominate the market, BTC dominance continues to fall. This means that we can think that BTC will fall and put pressure on ETH and other coins.
On the chart, which we can evaluate with the harmonic chart or the ABCD formation, we can predict that the prices will retreat by the wedge depth.
In this case, the price depth of the harmonic pattern, which corresponds to the fibonacci 1.618 levels, seems to be in line with the previous supply zones.
The fact that MA25 broke Ma100 on the downside in the moving averages shows that price stability has not yet been achieved on the upside. We can still agree that sellers are stronger.
To me, not all the signals seemed reassuring. I can't talk about a clear upside or downside. But at times like these, buying and selling fragments seems safer to me.
I think it would be a smarter approach to wait for the weekend to pass and for the price to be defined.
Whatever way it goes up or down, I've marked on the graph where the buy-sell reaction . These zones will work as support or resistance.
Note: This is not investment advice.
On the chart, which we can evaluate with the harmonic chart or the ABCD formation, we can predict that the prices will retreat by the wedge depth.
In this case, the price depth of the harmonic pattern, which corresponds to the fibonacci 1.618 levels, seems to be in line with the previous supply zones.
The fact that MA25 broke Ma100 on the downside in the moving averages shows that price stability has not yet been achieved on the upside. We can still agree that sellers are stronger.
I think it would be a smarter approach to wait for the weekend to pass and for the price to be defined.
Whatever way it goes up or down, I've marked on the graph where the buy-sell reaction . These zones will work as support or resistance.
Note: This is not investment advice.