The title really says it all. ETHBTC within a 3 week horizon, broke 2 major barriers and the future looks brighter than ever.
This chart is on the 1W time-frame and as you see the current candle just broke above the Channel Up that started back in late 2019.
2 weeks ago the price broke above the 4 year Lower Highs trend-line which has been a Bear Cycle's ultimate barrier since June 2017.
What is interesting is that since 2020 whenever the RSI made a Higher High and broke a Resistance (R), ETHBTC broke a major bearish barrier itself. On January 27 2020 the RSI (R) break pushed the price above the 1W MA50 (blue trend-line). On July 13 2020 it pushed it above the 1W MA100 (green trend-line). And as mentioned, 2 weeks ago it pushed it above the last bearish barrier, the 4 year Lower Highs trend-line.
From this point onwards we may see a major Parabolic Rise on ETHBTC. What do you think? Is ETH set to shine on top of BTC? Feel free to share your work and let me know in the comments section!
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Nice idea. I have much higher targets for ETHBTC. If this plays out as expected ETH will exceed market cap of BTC.
EricDanger
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etherium tsunami!
Fontnaut
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Absolutely has been a great week for eth and long awaited. As long as BTC does not capitulate below the 20 week sma, 21 week ema, put your spacesuit on. This is ETH’s bitcoinesque breakout
financialflagship
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Excellent breakdown, well done. 😉
satiev1
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Wow you believe eth breaks previous high of .15 btc?