More importantly, the R/S change around ~$78K did not hold and has turned back into resistance (R1).
The 50 EMA, which had been holding as resistance over the last few weeks, was also lost.
Meanwhile: → The RSI was rejected in its multi-year downtrend → The Stoch RSI is forming a bearish crossover → Strong resistance continues to build around $78–82K
I still think a short-term reset makes sense here.
And with the CLARITY Act vote tomorrow, volatility could rise quickly.
The thing is $ETH has brought BTC in the past. What’s the reason people don’t believe it? It happened almost 10 years ago, so most people either weren’t trading with crypto at that time or they’ve been so traumatized by Ethereum’s poor performance in recent years that they won’t believe it.
Notice the fractal the arrows are pointing to in the upper chart of the pair $ETH $BTC
I thought a bit lower, but it seems this Level will hold; let’s see how we close.
Support of 3M + In the psychological level of $1 + previous maximum of 3M already broken + sweep of the previous 3M minimum + Engulfing
This friend is going to go much higher. We’ve seen a deep pullback after breaking a bigger resistance. That often signals that it wants to climb higher (much more).