Telcoin, Ethereumn & Bitcoin — Asian Wrap 2 August

Telecoin price has the potential to shock the world. The technicals suggest a rally towards all-time highs at $0.05 is still possible. A Fibonacci Retracement tool surrounding the most significant rally from November 2020 through May 2021 suggests the current price at $0.0015 is merely a 61.8% correction in market value.

 

Ethereum classic price has more upside potential but finding an entry point will be challenging. Ethereum Classic price currently trades at $33.88 as the bears take full advantage of the profit-taking consolidation near the $40 congestion zone. Invalidation of the bullish outlook is a breach below $13.28.

 

Bitcoin price shows justifiable reasons to enter a short position. Still, traders should be wary as smart money deception could accompany the newfound bearish evidence. As notorious trader FF once said, “Anything too clean is probably dirty.”