BTC
HTF Analysis
Weekly -> DailyNow – Price found short-term support and based on previous 2018 ATH (18965). Weekly candle pushed upside toward 25k* for around 25%* run, leading to a relief rally for a month. Last week’s dump in price & the state of holding the structure from now on, is crucial for next month’s price development.
18965$ – 29375$ is the HTF price void, technically it’s in-efficient which must need to be filled.
Maintain the shift of the price -> Hold 20800 to keep the market in Bullish MS.
BTC Daily As talked in weekly, the same apply on daily but to keep the price in any short-term bullish sentiment, the price needs to work on the current level to be in the bullish structure
Take the lows around 20k -> reclaim the 21k level -> follow the efficient growth by claiming each upside crucial level
ETH
HTF Analysis Weekly -> Daily – Same as price formation in BTC, ETH follows the BTC price trends leading to a whopping 70% run from its mid-summer bottom. Price has tagged 2000 price level with the ETH Merge news as the catalyst.
Technical perspective –
Price tagged the low of June 21 (Range low of the range 1700-2900). Price struggled to be within the range and failed to hold 1700 key HTF level, additionally forming “Bearish Engulfing Candle ” Rejection from Range low + Bearish Engulfing Candle – contradicting the bullish anticipation of the price.
ETH Daily
Until the price holds the 4H Orderblock, it could have a tendency to re-push the price to the upside, and have to keep eye on the price formation at this key area. Price failing to reclaim 1700, could lead to a shift in the Bearish Market structure Additionally Bearish retest could send price back into the lower range of the price bracket { 1700-1100}.
