[ETH/BTC] - Get ready, get set, ...!
ETH is nearly primed for a nice bull run to new all-time highs. It is currently in a zone of resistance but with the 1D tenkan about to cross bullish over the kijun and price in the cloud, we have signs of a bona fide trend reversal here.
A risky bet is to enter now while in the resistance zone but a safer option is waiting for a close above the resistance zone around 0.059. The first target/resistance is the bottom of the descending triangle that broke south in October which also lines up with the top of the cloud at around 0.067. Following that, the 50% retracement of the ATH is also another good target at around .105, and then of course the ATH at 0.150.
This could just as easily bounce back down from the resistance that's been building so watch carefully over the next day or so.
A risky bet is to enter now while in the resistance zone but a safer option is waiting for a close above the resistance zone around 0.059. The first target/resistance is the bottom of the descending triangle that broke south in October which also lines up with the top of the cloud at around 0.067. Following that, the 50% retracement of the ATH is also another good target at around .105, and then of course the ATH at 0.150.
This could just as easily bounce back down from the resistance that's been building so watch carefully over the next day or so.
Comment:
This is moving quickly, expect a retest of the ATH soon.