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BehDark (EN)
The drop finally occurred, and the price reached the second support zone that was mentioned, reacting to that area. We will update this analysis as we gather more data from the chart.
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BehDark (EN)
The price pumped after hitting the green box from the previous analysis. It has now reached a supply zone, which might trigger a correction down to 98k.
Letβs see how Bitcoin reacts to the red box.
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BehDark (EN)
In our latest analysis, we pointed out the bullish movement in Tether dominance and warned to be cautious | and eventually, that move played out.
The bullish movement in Tether dominance started from the point where we placed the green arrow on the chart. It appears to be an ABC pattern, and we are currently in wave C.
Now, after the drop, the price is approaching a support zone that could potentially push it back to higher levels, so we need to stay alert.
The bullish wave C could complete in one of the marked zones.
Letβs see what happens.
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After being rejected from the higher levels and losing the trigger line, Ethereum now appears to have pulled back into the range zone and the trigger line.
It is expected that the price will be rejected once again from the red zone to the downside, and then turn bullish again from one of the two green zones and move upward.
This is our current outlook on Ethereum. The analysis will be updated accordingly.
Keep in mind that taking short positions in these zones is not low-risk either!
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After losing the trendline and forming a bearish CH (Change of Character), the price is now pulling back into the supply zones. A rejection from the red zone toward the green zone could lead to a drop.
A candle close above the invalidation level would invalidate this analysis.
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The overall structure in UNI is bearish, considering the recent CH (Change of Character) observed in the swing.
The price is currently below the resistance line, and if it approaches the premium zone of the previous minor wave, we can look for sell/short positions based on UNIβs overall outlook. The zone where we are interested in entering a position is marked with a red circle.
The target can be the green box.
A daily candle close above the invalidation level would invalidate this analysis.
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