$ETH Evening Thoughts:
The recent surge of Bitcoin didn't see much follow from Ethereum, it just made a symbolic upward move.
If Bitcoin experiences a pullback, Ethereum will go back to where it came from, this has always been its style.
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Talking with the chart: The doji star marked in the yellow box on the 2-hour chart for Ethereum looks terrible, I'm just afraid that Ethereum will struggle with small upward moves then suddenly drop down with a massive bearish candle. I believe it will go this way, just wait and see!
Ethereum will break above 1807 with volume for a long position, and if it breaks below 1797, go short on the right side, pay attention to the change in volume and set stop losses accordingly.
On the hourly chart, if it breaks above 1813, look up to 1850-1888, I’ve been calling for 1850 for a week and it hasn’t gone up.
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On the 4-hour chart, if it breaks below 1784, look down to 1751-1691. Looking back at the hourly chart, it doesn't seem to want to push upwards, it even feels like it’s about to stall. Is Ethereum unable to rise or is Bitcoin draining Ethereum? We will find out when the US stock market opens tonight. Currently, with high market volatility, be sure to set stop losses, meeting adjourned.
