Bitcoin / Ethereum Price Action Part II

In the last post we were in the midst of a bull massacre. Price was falling hard. Roumers were circulating. Is Vitalik dead ? Are all ETH ico's scams? Traders fared the worst. While many paniced, price action traders were no doubt looking for a reversal opportunity.

As price was falling we posted this: https://steemit.com/bitcoin/@fractalbounce/bitcoin-ethereum-price-action-some-key-levels

we discussed some possible reversal opportunities. This is what we expected from etc at the time:

ETH fell right into our level and bounced as we expected. If you took this trade and held, your up 40-50% depending on where you got in.

We can see above how price fell right into our demand zone and reversed.
From here bulls will expect a small dip in price followed by a retest of the highs. Bears will be looking for this as an opportunity to short.

In the BTC / USD market this is what we expected:

our level held, and price bounced as expected. Now it remains to be seen if the bulls can take out the 2700 supply zone where previously price fell hard.

Traders should watch BTC closely as it is market that moves all the other crypto markets. Are we in a solid trading range from $2,000-$3000? Or is this just a pause for a greater move ? We will follow the price action for clues. Stay tuned.