ETH Daily close on Fib .786 is more bullish than bearish

Fib Retracement placed on 1h candles. Volume Profile confirms that this .786 level could be new support for the time being. We will have to see in the next 4.5hr; 1) if this next 4h candle can close at or above .786, 2) If the 1D candle also does, then look for an eventual 569-550 bounce off those other Fib levels. I'm long on Eth and think we might see and ATH Q1-Q2, but this could be dependent on DOT and if we can see more interest in De-Fi. Google Trends indicate that Ethereum is trending as much as it was over the Summer, so this is a time to be more bullish than bearish. I would see those bounces as shake-offs, but it's also very important to consider the moves on BTC as well as the S&P/DOW as we move into the closing of Q4 on 2020.

Trade active:

Alternative bounce off 569 must hold as predicted. A convincing bounce off of 555-550 could mean go long, but falling from 569 under 555 may mean more blood to come for bulls.

Comment:

Pretty happy with the bounce off 567. Solid 4 bar 1h structure formed that I think Ethereum will build off as long as BTC continues moving upward.