DrDovetail

ETH on the verge of bullish greatness (1day goldencross+ih&s?)

Long
BITFINEX:ETHBTC   Ethereum / Bitcoin
The recent 4hour golden cross has been very good for the ETHBTC pair and we can see it's now led to a bullish surge at just the right time to give a 1 day ethbtc golden cross a real possibility of happening...should it complete the cross and continue this bullish surge we can expect price action will almost certainly go high enough to trigger the current inverted head and shoulder pattern ethbtc finds itself in. looking at the date ranges here to see what kind of candles each of the 2 moving averages will be factoring out of their trajectory in the next few days there is a slight possibility that there could end up being a 1 day golden cross fakeout but it will likely take a big red candle 180 from here for a golden cross fakeout to happen. So there are a few bearish symptoms like the candles that are about to be factored out of each moving average and the fact that the 1 day stoch rsi is way over extended...but overall probability favors the bulls here.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.