ssari

ETH.USDT (Y20.P4.E8).Looking to go long

Long
BINANCE:ETHUSDT   Ethereum / TetherUS
Hi All,

This just another update to the previous chart, link supplied below explaining the price action of ETH using the Inverted BARR method.

A bit of a scenario I missed out on the previous post for the short term.
I stated where the resistance trend line will be but I did not factor 2 scenarios, 1 with logarithmic scale and the other not.
> If it breaks above both these scenarios, and also the previous high, go long
Now looking at the non logarithmic chart above, it explains the resistance. Hence my following thoughts

MY THOUGHTS:
===================================
> Applying the inverted BARR strategy, bump and run as well.
> We have the inverted BARR trendline as the major resistance.
> Note how the previous peak for ETH was at the 0.618 fib level which sets it up for this new trend line .
Bitcoin did something similar early this year and it took up to the 4th attempt to break it (refer to previous BTC posts in that time frame). I expect something similar but less likely 4 attempts.
I would lean to the 3rd attempt to break it.
> Right now, we have BTC dominance on the up, soon it will level off and here is when I think ETH will break this trend.
> In the meantime, it will do some sort of consolidation under this resistance.
> If it breaks above both these scenarios, and also the previous high, go long
> Alts and ETH are in sync with BTC dominance and key levels of resistance, Some like LINK have a very different structure, which I am not so sure to read at the macro level.
> My expectation is if ETH breaks this resistance trendline, it could also have another reistance level with the logarithmic lead in trend line as well.
> Most likely the ALTS will follow and the ALT season will kick in.


Lets see how this hypothesis goes.

Please give me a like or tick for this post.

NOTE: Do not short BTC , go long. If you considering wedge formations or head and shoulder formations, you will fall into a trap.

All the best,

S.SAri.

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Logarithmic chart\scale
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Non logarithmeic scale

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PREVIOUS POST

ANOTHER POST USING THE INVERTED BARR APPROACH, Proves to be correct
Comment:
Comment: Could this be the breakthrough we have been waiting for. Its close.

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