The ETHBTC pair has been trading inside a Triangle pattern for almost a year (since the June 13 2022 Low). For the past 3 weeks the 1D MA50 (blue trend-line) has been supporting while the 1D MA200 (orange trend-line) has been the Resistance since January 21 as the price has failed to close a 1D candle above it (having 3 clear rejections on it).
The key difference here is the formation of a Bullish Cross on the 1W MACD. In the past 12 months, this has always been a Buy Signal. We are buying and targeting the 1D MA200, and if it closes a 1D candle above the 1D MA200, we will extend buying towards the 0.618 Fibonacci level.
Just small correction. The triangle is much, much bigger - connect lower candle bodies of Dec 19/Jan 20, Dec 20 and current Apr 23. But the key idea is hopefully right.
HAMED_AZ
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Great idea
The_Bitcoin_Boy
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I like the look at the eth/btc pair, but if you zoom out you'll see it's part of a larger multi-year pennant, which will break to the downside imo.
TheNewsCrypto
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Perfect mate
DeGRAM
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Well done mate
melikatrader94
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Great technical analysis, I think price will soon show who is right Thanks