Jason Appel
Jason Appel 3 minutes reading from Bitcoin

Price Analysis: BTC, ETH, ETC

Bitcoin BTC Ethereum ETH 🧵 tracking the move from this week's low

ETHUSD: Price failed to hold micro support and the impulsive potential off the low has flopped. With only 3 up: while we can consider a low of sorts in place, we're relegated to considering a diagonal (estimated path displayed) for the immediate bullish potential.

The only real positive development here for bulls is the pullback from this reprieve bounce looks corrective which potentially sets up price for higher albeit not confidently.

Below 1167 shifts odds back in favor of lower lows to come

BTC: Like ETH in that the impulsive potential has failed. While there's a possible leading diagonal shown in blue it does not provide any confidence of a low in place yet.

And I can make a case based on the height of this bounce, that it was only a wave iv with one more low to come. For bulls to keep the LD hopes alive, price needs to remain above 16,120. A meaningful break below strongly suggests lower lows

This post is based on this twitter thread.


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