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👀 Yesterday, we looked at the $ETH / $BTC chart, and today I’d like to show you the #ETH / $USDT chart.
The correction was unpleasant, no question about it. But we already have several signals indicating a potential trend reversal:
1️⃣ The lowest VFG on the Daily tf has been filled, and it was located in the discount zone.
2️⃣ #Ethereum’s structure is Bullish - with Higher Lows (HL) and Higher Highs (HH).
3️⃣ After a period of strong RSI oversold conditions, we now have a confirmed breakout followed by a retest of the previous resistance.
📉 Today’s correction was expected - after a sharp +20% move in just a few days, the price had to cool off and retest previous key levels.
I’m no longer focusing my attention on #Bitcoin. Its cycle may indeed be coming to an end, but the rest of the market could still shine on a dead-cat bounce. 🐈⬛️