If btc shows negative bias , ETH/USDT will perform accordingly.
According to some technical reasons which we observed there chances that ETH/USDT may settle around 2000>1940>1900 range.
1. Due to negetive RSI and price action divergence in weekly chart.
2. As it's been 4 weeks since ether has been bullish so a retracement upto 0.38-0.50 Fibonacci may take place...
Keeping BTC CME futures gap-filling theory aside.
Some technical reasons which we observed that may lead to a downfall in #BTC to the zone of $47k are :-
1.Rising wedge formation, in which downside breakout has already occurred and technically next support lvls are $50k - $49k - $47k
2. Next strong support zone 100days EMA around $48k.
3. RSI and...
As you all can see we witnessed a good rally in ethereum.
but $289 is a crucial resistence level , after which we may see a correction in prices upto $255-250.
if $289 is crossed then we may see a further up move.
According to MACD , trend is soon going to end . and we may see a correction.
Same depicted by RSI, which is in its overbought zone.
So keep an eye on...