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Bitcoin/Ethereum short term update based on Fibonacci


Yesterday's high was 78.6% of the recent range (2), the target on a break from here is 78.6% the other way at 34800 (3). In the overnight trade they failed to hold 38.2% (4), this violated the uptrend for now. The other support before the 34800 target is 61.8% at 35800.


Ethereum is now back below the 2741.00 long term swing point and a break from here should send it down to new lows. Shorter term, it has taken out 38.2% of the recent range violating the uptrend, this level is 2620.00. Look for 78.6% at 2340.00 (5) and before this is 61.8% at 2460.00.