@qubuso
$ETH – After breaking below the Weekly Bull Market Support Band, the price has tapped into the support range aligning with the golden pocket between the 0.5 and 0.618 Fibonacci POIs, the same zone where it previously bottomed, as I highlighted in earlier PAT Updates.
I believe that as long as the price holds above the 0.5 Fibonacci POI, the odds of a reversal to the upside remain high. If it fails to do so, I expect more consolidation, which would signal short-term weakness.
As the price approaches the prior high-timeframe support range, marked in green, also aligning with the Weekly Bull Market Support Band, I think the best approach is to stay cautious until we see clear signs of strength, such as a decisive break above that range.
Otherwise, I’d be ready to hedge against a potential reversal if the price continues to consolidate within the golden pocket.
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