Looking at the weekly chart, which is the main chart above, I can quickly spot the following signals:
- Last week candle is a candle. The long wick at the bottom tells us that the bear fought but the bulls fought back harder and pushed the price back up.
- The big GREEN bar is another good signal to look at. ETHBTC had the biggest since January 2018. This weeks candle is yet to close, but we have another candle that is looking like a , another signal for reversal.
- bounced from oversold line. This is a very strong signal since this is the weekly time frame.
- The is sitting on oversold for quite a while now. Only place it has left to go is up.
- Price bounced from Nov. 2017 lows. Last time ETHBTC price hit this level it went on a bull run.
These are just a few signals that I am getting from my charts, there are more signals that can tell you about what's to come for ETH, and it seems that a bottom is forming here. The are also on our side.
I will now take a closer look by checking the daily time frame and see what we can spot there... Meet me on my next Etherum (ETHBTC) trade idea.
Thanks a lot for reading. Your support is always highly appreciated.
P.S. Make sure to visit my profile and check my other Altcoins trades!