jazerbay

ETH-BTC (ETH has the power..) weekly view

Long
KUCOIN:ETHBTC   Ethereum / Bitcoin
Hello there traders and investors, or anyone else taking a gander! ๐Ÿ˜„๐Ÿ‘‹


๐ŸŒžToday we will take a look at ETH and why I think we will soon be so bullish! (For this example we are using ETH/BTC pair..)

Let me start by saying that ETH is no joke. Many think it will surpass BTC eventually, this sounds kind of silly to a few, but it is anything but silly!๐Ÿคช๐Ÿšซ

After a (0.382) fib retracement to approximately ๐Ÿ’ฒ0.053๐Ÿ‘€, I am looking to achieve almost full fib extension and go to our approximate target listed above.๐Ÿ†™๐ŸŽฏ



Here are some reasons why:๐Ÿ‘‡๐Ÿ‘‡
๐Ÿ‘‡

๐Ÿ”ตTechnically, we are looking very strong on this specific chart, we have seen a HUGE break up from a major trendline. The break started ~April 19th, about a week after Immutable X was dropped on ETH. โฐ๐Ÿ“ˆ๐Ÿ’ช

๐Ÿ’จHere in this pair, you can see the dominance of ETH very clearly against BTC . โฉโฉ(in order to see the big candles that we see above, this means the price action of ETH during that period of time was substantially more bullish than that of BTC )

๐Ÿง‘ Vitalik has a lot of control over the price of ETH, which means he probably wants a nice correction so that going into the next bull market, we have strength to push to new highs.

๐ŸŸก Vitalik Buterin (founder of ETH) recently donated 1 BILLION dollars to charity, and to relieve India from the financial stress they are under due to COVID.(This could be seen as a good way to force ETH into an even healthier correction, which was much needed)๐Ÿ‘Œ๐Ÿ“†๐Ÿ“Œ

๐ŸงกApril 8th of this year Immutable X protocol (easy 2-layer scaling) was released on the ETH blockchain, which is excellent for ETH and Immutable alike.โœ”๐Ÿ†—

๐Ÿ’ฅLet's see what happens now! I am definitely bullish and looking to continue up as we form a giant parabola.๐Ÿฅณ๐Ÿง

๐Ÿ›‘๐Ÿ›‘This is not financial advice๐Ÿ›‘๐Ÿ›‘๐Ÿ›‘ Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment, thank you!

Always have a stop loss โœ‹๐Ÿ›‘๐Ÿ’ฒ set



Any thoughts ๐Ÿ’ญ๐Ÿ’ก, questions ๐Ÿ™‹โ€โ™€๏ธ๐Ÿ™‹โ€โ™‚๏ธโ“, good ๐Ÿ‘, bad๐Ÿ‘Ž, happy ๐Ÿ˜„ or sad ๐Ÿ˜ฅ, always welcome.

Thank you so much!

Jazerbay ๐Ÿค

Comments

Nice work Jaz
+1 Reply
jazerbay AvenueWork
@AvenueWork, Appreciate Ave!!
+1 Reply
ETH is finally Back
+1 Reply
jazerbay videosims
@videosims, yes we love it! thanks for feedback
Reply
I agree with this , eth can even go higher than this and flip btc
+1 Reply
jazerbay Bitcoin-Proselyte
@Bitcoin-Proselyte, thank you so much for your opinion and I agree ๐Ÿถ๐Ÿ‘Œ
+1 Reply
Good take on eth, agreed. Nice post!
+1 Reply
jazerbay dudebruhwhoa
@dudebruhwhoa, thank you!! Noted ๐Ÿฅณ
+1 Reply
Yeap, eth stronger than btc
Great job
+1 Reply
jazerbay OptimoomFX
@OptimoomFX, absolutely and so much more to come! Thank you!!!!
+1 Reply