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$ETH - H4 chart
Ethereum was bottom out in the purple rectangle on the H1 chart. It broke down, grabbed liquidity at 3260$. It was of course a fakeout.
On the 4-hour chart, this doesn't change much.
If $ETH keeps retesting the lows, then it is a sign of weakness and makes it more likely to dump lower.
If we stay above 3230$, then I'll be cautiously bullish.
Bitcoin is also more or less in the same situation. The best we can do now is wait and see how it evolves.