TradingShot

ETHBTC Is is starting parabolic rise similar to 2017?

Long
BITTREX:ETHBTC   Ethereum / Bitcoin
This is Ethereum's month by no doubt. It's strong start on the 1st month of the year made me look again at ETHBTC on the monthly (1M) time-frame and I found a very interesting pattern.

It appears that we have completed the Inverse Head and Shoulders , which started at the end of 2018. Such patterns are technically signs of a trend change from bearish to bullish . On top of that, December's (2020) candle bounced on the Higher Lows trend-line that has been providing Support since 2016.

It is important to note here that so far the current monthly candle (+53%) is the strongest since the January 2018. And if fractals bear any importance for you, it is almost as high as the January 2017 1M candle. Why so important? Because that candle also followed a bounce on the Higher Lows trend-line and was the start of the 6 month parabolic move of 2017. Coincidence? Could be. But in my opinion if the 0.04200 Resistance breaks (holding since September 2018), ETHBTC will look to fill Gap after Gap all the way to the All Time High.

Are you sharing a similar view?


** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------

!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!

πŸŽ‰ πŸ‘ Shout-out to TradingShot's πŸ’° top TradingView Coin donor πŸ’° this week ==> michaelzerna

--------------------------------------------------------------------------------------------------------
Join Tradingshot's Account Management program!!
πŸ’²πŸ’²πŸ’°πŸ’°πŸš€πŸš€
-At least +20% monthly profit on +10000 USD accounts. Max 30% drawdown.
-Message me for more info!

I trade on the best platform PRIME XBT!

REGISTER HERE --> https://primexbt.com?signup=139341

Comments

i agree with you idea/ ETH will be pumped full of DEFI projects.
+1 Reply
I see the ETHBTC chart the same way.
Reply
nice one 0.0350 Key resistance for me once we clear that 0.570 next
Reply
1000
Reply
It looks like its taking 1 last dip before taking off, just trying to buy in now at the lowest point i dare. What is the bottom of this dip does anyone have a guess??
Reply
Good work
Reply
Good long term analysis :)
Reply
as always another great analysis and insight. Keep up the good work.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out