While most crypto market watchers remain focused on Bitcoin’s ongoing struggle with $31,000, Ethereum recently closed above the psychologically important $2000 level for the first time in weeks. Now poised to close lower for four straight days, let’s take an evidence-based approach and determine whether four consecutive days lower for Ether is historically bullish or bearish going forward. Let’s dive in! Ethereum’s Close Above $2000 Followed By Pullback After closing at an impressive multi-week high and back above the $2000 level on July 13th, Ether has pulled back for four consecutive sessions, one of the conditions we’ll test momentarily. To better add context to the test, we’ll also add two more conditions requiring that [1] Ether is above its 200ma and that [2] its 200ma is rising. Why? The 200ma and its slope both act as simple filters to help determine market regime. For example, this latest four day pullback in Ether occurs in an improving market in which ETH is above the rising 200ma. If the current four day pullback were occurring in a down trendin ..
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