SlimPhem

SlimPhem

BTC’s initial reaction to the $72,000 - $73,800 resistance indicates a fifth rejection at this critical level. For a potential retest of this resistance, BTC must secure a weekly close within the $65,500 - $67,300 support zone. As noted previously, BTC could experience a deeper pullback, potentially revisiting the downward trendline it broke out from two weeks...

SlimPhem

Bitcoin is positioning itself for a very strong weekly close! As it stands, it seems there is only one more resistance before price discovery. Today close is key!

SlimPhem

#ETH bouncing right from macro support area. Firstly, the price needs to stay above ~$1950 for a continuous uptrend

SlimPhem

#ETH lost the initial blue-circled area as support and has since dumped past the dashed line support. #Ethereum needs to hold this ~$1680 support area to prevent a multi-month downtrend. Also, bullish sentiment will return only if we have a weekly close above ~$3,050.

SlimPhem

A weekly close like this means the blue-circled area has turned red thus the price is heading to the dashed line support area. Price needs to rally back above ~$3,050 for bullish sentiment to be back.

SlimPhem

#ETH bounced from ~$2,797 and immediately got rejected from ~$3,050. Ultimately, #Ethereum is still holding this blue-circled area as support however it's showing signs of weakness. Will this blue-circled area eventually turn red this week due to signs of weakness? Weekly close below ~$2,791 confirms this!

SlimPhem

Nice price action from ETH going to the daily close! Ethereum has finally started to show strength from the blue-circled area. Very important that ETH continues to hold the blue-circled area as support till the weekly close.

SlimPhem

Not a convincing weekly close for ETH! No reaction from the blue-circled area thus far which shows weakness. Ethereum is still hovering inside this circle however it needs to go above the top of this blue-circled area (daily confirmation) to prevent a retest of the dashed line support.

SlimPhem

Not a convincing weekly close for #ETH. #Ethereum failed to flip ~$3,350 as support on the retest and has since dipped to the (~$2,791 - $3,050) support area. It is important that #ETH holds this blue-circled area as support just like other green-circled areas.

SlimPhem

#ETH can dip to as low as the top of the green-circled area and still maintain a bullish bias.

SlimPhem Updated 

This is how things stand going into the weekly close.

SlimPhem

#ETH can dip to as low as the top of the green-circled area and still maintain bullish structure. Inasmuch, #ethereum keeps closing inside this blue-circled area, the bullish sentiment remains intact. $ETH is doing everything right at this point until it closes back inside the green-circled area.

SlimPhem

#ETH is doing exactly what's needed for a continuous uptrend. It's very important that $ETH breaks through this ~$3350 resistance and confirms it as support.

SlimPhem

#ETH needs to perform a weekly close above the green-circled area just like it did in previous weeks to prevent a repeat of the red-circled area. A weekly close above this area will allow #ethereum to challenge the ~$3,350 resistance and more importantly the ~$4,075 resistance.

SlimPhem

#ETH broke out and retested its symmetrical triangle (4H, 1D, 1W timeframes). The next resistance remains the ~$3350 zone. #Etherum #ETHUSDT