ETH is seeing a strong bullish impulse after reaching the 0.618 Fibonacci retracement level. This level is classically a strong area of support where higher-lows get put in.

From here onwards, I think we can see more bullish price action in the short term. Targets placed at $3200 and $3500 for the coming two weeks.

Since a macro trend reversal has not yet occurred on BTC’s daily chart , I’m not convinced that we’re going to see ETH trading above $4k yet in the near future. For that to occur I want to a higher high for both BTC and the NASDAQ.

Happy trading!