The pair ended the LTF range, which it had been continuing for more than 1 month, with the loss of 29500. However, deviation, which is another component of the range, may occur. The bulls’ hand will be strengthened as BTC wins the red box range (29880 – 29665) within the range. In this case, a rise to the RH level of 31472 is expected.
As long as these conditions are not met, we can say that the parity continues its bearish movement and targets the 28692 – 28100 main support range, which I have indicated with the blue gray boxes at the bottom. When this support range comes, bullish breakdowns can be sought in lower time frames to create a buy-side position.
ETHUSDT – 3D:
Let’s take a somewhat realistic look at the macro in the context of a lot of bull content with FOMO.
Unless the price stays above the red dashed line, the move above RH is a divergence and bearish retest to RH has also occurred. Therefore, technically, an expectation up to RL can be entered. The red dashed line contains the stops of many swing shorts.
The blue box and EQ are key in the bearish scenario. In case of loss, a drop to RL and the green box below it can be expected and brings many altcoins bottoms that will create buying opportunities. However, the bulls will fight hard so that the blue box is not lost. Unless that region is lost, it would not be right to expect a deepening of the decline. Looking at the view from afar allows you to make healthier decisions.
Good luck to everyone.
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