We have been experiencing a lateral phase for 11 days now which is between the area of around 46000 and 49800. 46000 represents the first Fibonacci retracement from the rise that began on 20 July. It is essential not to break this support in order not to test the levels of 44000 and 42500. The positive news is there and I believe that we are experiencing a phase of accumulation. The dominance of BTC is at 41.5%, it continues to fall and the altcoins season could start (see my previous article). The Fear and Greed index is at 73. The probability that this phase continues today is quite high so long 46200 short 49900. Eth is detaching itself from the trend of BTC in fact ETH / BTC is rising and it could be a good idea to trading
Meanwhile, I enter the levels for an intraday trading of BTC and ETH. Happy trading everyone.
Chart from tradingview.com
Thanks for reading