Bitcoin & Ethereum, long term swing points
While both are rallying, Bitcoin has been trading above and below their long term swing point of 46,800 and the major Gann square of 47,862.00. On the positive side Friday's low held 23.6% of the recent rally at 44,600 and the 44,160 major Gann square. Once it can clear the 47,862 major Gann square the next target is 61.8% back to the ATH, this is 55,130. A break from the long term swing point can still go for new lows longer term, short term watch 38.2% at 42,500, if this is all it can setback the short term trend remains positive and the rally continues.
Ethereum is above the long term swing point of 3190.00 and Friday's low went back to test that level and is making new highs for the run up. The next target is 61.8% at 3830.00, there is also a major Gann square at 3802.00. One other level of resistance before 3802.00 is a major Gann square at 3571.00. Getting back below the 3190.00 long term swing point would be negative, however it would have to take out 38.2% of the current rally at 3000.00 to turn the short term negative too, provided it did we would be looking for 78.6% back at 2460.00.
You can get the Gann “Law of Vibration” charts for Litecoin, Ripple, Cardano, Solana and Dogecoin HERE for Free.
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