ETH missed the $2k retest and we seem to be in a key moment now. If ETH fails to reach $2k and pass it, then I fear ETH may be in trouble in the near term because the chart looks a bit bearish as we stand now.
We really need to reclaim that 2k level and pass it. Otherwise, what I see is a lower high at $1,900 which correlated with a bearish divergence on daily RSI is screaming bearish.
Nevertheless, the yellow parabola continues to hold at the time of this post, however, if we fall under it and particularly under the $1,700 level, then my bias will turn bearish.
For now there is no reason to be bearish, there is still a good chance we go higher, so patience is key. For some this may present a good buy opportunity, but the risk here is quite high I would say. Best to wait a clean break above $2k.
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We really need to reclaim that 2k level and pass it. Otherwise, what I see is a lower high at $1,900 which correlated with a bearish divergence on daily RSI is screaming bearish.
Nevertheless, the yellow parabola continues to hold at the time of this post, however, if we fall under it and particularly under the $1,700 level, then my bias will turn bearish.
For now there is no reason to be bearish, there is still a good chance we go higher, so patience is key. For some this may present a good buy opportunity, but the risk here is quite high I would say. Best to wait a clean break above $2k.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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