Hello there,
A potential turning point is emerging as Bitcoin investments experience outflows while Ethereum, alongside altcoins like Avalanche, Cardano, and Polkadot, stands out, indicating a shift towards diversification among traders. The successful launch of spot-based Bitcoin and Ethereum ETFs in Hong Kong underscores the cryptocurrency market's global expansion and increasing investment opportunities. This trend suggests a growing interest in Ethereum and a broader investment strategy among traders. However, technical analysis indicates a possible bearish continuation if a critical support level is breached, potentially leading to a downward movement in prices.
T.A Outlook
A break of the critical support level of 3034.64 could result in a bearish continuation down to 3k to 2937.81-2920 areas following the completion of the ABC bearish sequence.
Happy Trading
K.
My technical setups are speculative; they are not guaranteed for accuracy or completeness in the form of any content, and they are not intended to provide financial market advice. Please apply your own analysis and confirm it with price action.
A potential turning point is emerging as Bitcoin investments experience outflows while Ethereum, alongside altcoins like Avalanche, Cardano, and Polkadot, stands out, indicating a shift towards diversification among traders. The successful launch of spot-based Bitcoin and Ethereum ETFs in Hong Kong underscores the cryptocurrency market's global expansion and increasing investment opportunities. This trend suggests a growing interest in Ethereum and a broader investment strategy among traders. However, technical analysis indicates a possible bearish continuation if a critical support level is breached, potentially leading to a downward movement in prices.
T.A Outlook
A break of the critical support level of 3034.64 could result in a bearish continuation down to 3k to 2937.81-2920 areas following the completion of the ABC bearish sequence.
Happy Trading
K.
My technical setups are speculative; they are not guaranteed for accuracy or completeness in the form of any content, and they are not intended to provide financial market advice. Please apply your own analysis and confirm it with price action.
Trade closed: target reached