Peymana71
Long

ETH Analyse.What happened if BTC didn't turn market to Hell?

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Hi Guys,
Honestly,I promised myself not to publish any Analyse about Alts and Assets till their free themselves from BTC pressure but i really can't resist to this Signs and Bullish Outlook here,in Alts market.
Most important thing here is that many of Alts printed a new low with BTC except ETH.With all pressure of BTC we saw that ETH ,didn't close to its last lows,even.It was very important sign that show us all this downwards forced by BTC and maybe if there wasn't any BTC in market we have much different moves in them.
Another thing is too obvious is that whole downward in ETH formed a big Bullish Wedge .In BTC market it is not that clear like here or many other alts.This wedge is near to work perfectly but like always BTC can change all our expectation again.If all thing go well with BTC i have 2 bullish possibility here based on future BTC move again.If BTC go up from here we will continue our upward in ETH with red arrow and if BTC want to find some support in little lower target,ETH will go up like Black arrows.
Actually if BTC moves ETH lower,it will form a iH&S that will be really Good.All Things here show us that ETH and most Alts are like a spring that compressed by BTC and wait for a release.
We have great signs in RSI and have a bullish reversal in MACD D time frame too.
To understand better what stop ETH in last bounce,you have to see this chart exactly.As you can see we have a huge triangle formation like BTC in ETH.I draw two most possible bottom for this triangle in red and black dotted line that show you with arrow in chart.we are stock between this two line and oldest one work as resistance for ETH now,But i'm sure if BTC went much higher ETH didn't stop here but can't look at it as a accident.After we bounce out of this bullish wedge ,ETH have a huge resistance about $600 that is roof of that huge triangle.
Don't forget that BTC can ruin all this signals and we need to focus on it when enter an Alt trade.I usually suggest my friends to trade in Alts in each BTC short term/mid term bull market because they are much more profitable than BTC but must be careful, BTC move down can fell more in Alt market and can destroy your entire portfolio.
Again thanks to read my ideas,please like this analyse if you like it and leave a comment for me to know what you think.
Best Regards
Peyman A
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Comments

Thanks for your great posts,i did not realize your point well,you say we invest in ETH and ADA instead of BTC?
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