As we approach nearly a month in the range from $4000-4800 it looks like ETH is making a move once again.
Previously once hitting $4800 price gradually sold off back towards range low creating a bearish trendline, once the price broken above that level a rapid move up to range high within two candles.
Now looking at the chart we have a similar setup, strong breakout from the bearish trendline up into midpoint. Bitcoin currently retesting a key level of $112,000, should BTC flip this level I could see alts getting the greenlight to move up and Ethereum up to the highs.
Should BTC reject from $112,000 it makes sense that ETH range midpoint would be strong resistance, rejection could lead to a range low retest. Anything else that isn't either range high, range low or midpoint is noise and for me no action required, no need to over complicate it.
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