Hello friends, today I am showing you a multi-month trendline that has supported Bitcoin (BTCUSD) and Ethereum (ETHUSD).
#CryptoPickk notes the following:
1) The trendline has supported both Bitcoin and Ethereum price since the beginning of the bull market and it has re-tested the trendline before making the next move upwards. 2) Since July 2021, the price has moved up significantly from the trendline and with the current economic conditions and markets crashing, it may be a chance for the price to touch the trendline again. 3) The price target on this 1W chart has been noted for both Bitcoin and Ethereum. Bitcoin would be around 38K and Ethereum would be around 2.5K. These are just estimated targets based on the trendline. Prices may consolidate and be higher by the time it touches the trendline. 4) If you are considering buying the dip, be a bit cautious.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
I call this BTC Great Reset to 42k. Your Cup and handle chart analysis work out perfect 👍. Lower wick - people been greedy but it is great for RESET FOR UPCOMING BULL RUN. I’m expecting now to recover back to 53k and reject back to retest 45-46k MA20 and Ma 50 plus cup trend line 46800 line up perfect. 42k not for retailers?. If we drop bellow 40K means BEAR MARKET (personally, I do not want to see that!) ETh manage to hold the ground very well which is not good in my opinion. Price is overheating🥶 , I know cup and handle look massive but look at weekly chart it is scary to invest Rsi and macd VERY HIGH! I think price must come down or Consolidate for months not sure how will effect alt coins .I’m polkadot guy look good 🍀Good Luck🍀
MillionaireEconomics
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@milanx82, thank you and good luck with your outlook!
tonydabomb
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Flash crash to the trend lines for a bullish divergence or a blood bath
ETh manage to hold the ground very well which is not good in my opinion. Price is overheating🥶 , I know cup and handle look massive but look at weekly chart it is scary to invest Rsi and macd VERY HIGH!
I think price must come down or Consolidate for months not sure how will effect alt coins .I’m polkadot guy look good
🍀Good Luck🍀