Hello traders 🐺 .
if you guys remember I published an idea about ETH/BTC at oct21 which I said that the ETH/BTC created CUP&HANDLE pattern and guess what happened , today I pulled up the chart and see the CUP and HANDLE neck line is broken , and I think this is a best moment to publish an idea about ETH 🐺🚀 .
let's talk about ETH/USDT first :
Here is the weekly chart :
in the weekly chart we have very beautiful ascending channel and also there is 2 strong support structure ( weekly red support box ) , also there is interesting facts about this ascending channel which I gonna talk about them now :
if you attention to the chart and you can see that this ascending channel is a 0.618 ascending channel ; which means after price hit to the upper line of the channel , price start to retracement exactly to the 0.618 . this is one of the rare pattern that could happen in the chart 🤯
if you look at the current support structure you can see price never closed a candle below it which make it this support structure very very strong ; and also this long wick below this support is also a bullish sign , so it's very important to close a daily candle and more important the weekly candle above it .
now it's time to talk about a very interesting and amazing chart which is ETH/BTC :
in the chart above we can see ETH/BTC break the neck line if the CUP & HANDLE pattern which is a very bullish sign and also this is W pattern neck line I talked about this pattern before in my previous idea about ETH/BTC you can go and check it ( link in the related idea ) .
🐺I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for reading my idea🐺
if you guys remember I published an idea about ETH/BTC at oct21 which I said that the ETH/BTC created CUP&HANDLE pattern and guess what happened , today I pulled up the chart and see the CUP and HANDLE neck line is broken , and I think this is a best moment to publish an idea about ETH 🐺🚀 .
let's talk about ETH/USDT first :
Here is the weekly chart :
in the weekly chart we have very beautiful ascending channel and also there is 2 strong support structure ( weekly red support box ) , also there is interesting facts about this ascending channel which I gonna talk about them now :
if you attention to the chart and you can see that this ascending channel is a 0.618 ascending channel ; which means after price hit to the upper line of the channel , price start to retracement exactly to the 0.618 . this is one of the rare pattern that could happen in the chart 🤯
if you look at the current support structure you can see price never closed a candle below it which make it this support structure very very strong ; and also this long wick below this support is also a bullish sign , so it's very important to close a daily candle and more important the weekly candle above it .
now it's time to talk about a very interesting and amazing chart which is ETH/BTC :
in the chart above we can see ETH/BTC break the neck line if the CUP & HANDLE pattern which is a very bullish sign and also this is W pattern neck line I talked about this pattern before in my previous idea about ETH/BTC you can go and check it ( link in the related idea ) .
🐺I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for reading my idea🐺
