On the 4 HRLY Chart we have the following: * 200 and 377 EMAs with Orange and Red lines. * Downward (pitchfork) trend channel * Historical support and resistance lines * Preferable BUY ZONE to go LONG * One can probably argue that the bottom was in at around $153 or so * One can probably argue that we in the accumulation phase, for many ALTs * and currently in a bullish reversal pattern in the making (Black lines).
Thoughts: * Expecting price to approach 200 EMA and be rejected > dependent on BTC performance * Price to drop to the Green Zone where it will complete a DOUBLE BOTTOM to go long, within the current bullish reversal pattern * Referring to the ALT Dominance chart, I can see it going side-wards for some time * Referring to the ETH\BTC Pairing, one can argue a cup and handle is in the making or can agree the formation was\is bullish and probably as well that the bottom was in at the bottom of the cup pattern. (wished I looked at it before). Its worth watching if the HANDLE gets completed, making a good entry as well. It might have confluence with the chart above as per the Green zone.
ETH/BTC 4 HRLY Pairing Chart
Cheers, S.Sari
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Looking at the BTC pairing, its probably not worth going long against BTC but short, until it breaks this red resistance band.
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Chart update (tweaked)
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Updated chart
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4 HRLY chart
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4 HRLY BTC Pairing
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Daily. Looking for it to pass the Daily 20 EMA and then the 200 (orange) EMA to go long. Short between the 2. That is above the 20 and below the 200, until it breaks the formation
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apologies. This is the Daily
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at the micro level
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Macro level. Note, I did these rings some many months ago and it seems to be very accurate. They say TA doesn't work, this is proof it does, especially in the Crypto scene, I see lot of fib. and elliott at work and no much manipulation
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Just looking back, the RSI area in GREEN that I indicated was the level to buy in, for at least for shorting