Here is our traditional Bitcoin analysis. I hope you enjoy my today’s Ethereum analysis. After flashing the insane short setup at $24500 we are still waiting for insane long opportunity and continue accumulation of the tradevesting long positions.
Today we saw another dump, but I think the bounce is still possible. I will use this bounce to close the part of current long trades because believe that the bottom will be lower. Why the bounce is probable. Firstly, the BTC price is staying just above the demand zone on the 1D – strong support. Moreover S1 for August is also located here. We usually see the bounce from S1 to retest early broken central pivot range. We can clearly see that CPR coinsides with the false trendline (but this time it’s respected and we have to take it into account). Now I think that we will se the bounce to $21800 before the crash. Yesterday I called the $22300 as the potential bounce level, but today a little bit changed my mind.
Finally I am waiting for insane long signal to buy super agressively. The true divergence with MACD is going to happen in September. Let’s wait.