Technical analysis by fract about Symbol ETH on 7/20/2025

Research Notes Price is getting close to connected tops (after which rejections happened). If we scale out, there is larger narrative Giving vital points of reference. The dynamics look like part of various progressions at the same time. For example, to answer why price grew from sub-2k levels in the first place, I would pay attention to how it had been falling. Even if price breaks above white line, the ongoings cycle still inherits the prolonged timing. Interconnection of levels with structural significance: ⬩At smaller scale, fibonacci channel adjusted to the angle of the first small cycle ⬩Scaling out the structure from previous cycle to relate to the levels of local scope. ⬩The final frame of reference covers the case where price expands breaking domestic range.Structural reference to broad channel. Fib channel angle 2018 & 2021 ATHS relating to covid bottom.