From a double dead cat bounce to an established trendline
ETHBTC will test 2.618 with strength behind it
This strength will prove vital in breaking this barrier, a barrier which has been observed in the past
Another test and rejection will lead to the same recovery, and another testing of 2.618. The only question is, is this the structure that holds and breaks...
*Disclaimer, this is not financial advice, just my opinion as a crypto enthusiast.
On the weekly ETH/BTC chart we have a "cup and handle" formation which is known to be one of the most consistently accurate chart pattern.
*The base of the cup is very smooth (rounded) rather than jaggedly or V-shaped which gives this pattern more...
ETHBTC possible long on PTZ for Cypher harmonic pattern.
Cypher pattern often appears as complex correction of Elliott wave fractal. Also in typical running flat or typical 3th wave correction.
If this is case, we should see 1st impulse (not necessary to catch bottom) and better to wait for pullback after first move. If not hold we can see level what I will watch...
Hello there traders and investors, or anyone else taking a gander! 😄👋
🌞 Today we will take a look at ETH and why I think we will soon be so bullish! (For this example we are using ETH/BTC pair..)
Let me start by saying that ETH is no joke. Many think it will surpass BTC eventually, this sounds kind of silly to a few, but it is anything but silly! 🤪🚫
ETHBTC has continued to rally after it broke out of the golden pocket resistance of 0.072-0.073. Not only did price break above this zone, it came back to retest it as resistance, and then double confirmed the breakout by closing above the high of the initial breakout at 0.075. Moreover, this also means that price broke above the neckline of the W bottom pattern...
ETH/BTC is the better BTC.D these days. As we can see, previous ATHs haven't been met even closely. If BTC retest 32k-34k range and holds, we might see ETH and Alts to strengthen against BTC throughout the summer. Going into fall/winter, we might see BTC reclaiming the ATH and getting ready to break out. In that case, fall/winter is the time to take profits from...
Using this in future we can predict where ETH will top assuming the initial move produces a higher ETHBTC ratio
following this initial move Bitcoin should carry Ethereum higher, while ETHBTC falls off, as can be observed in the 2017 bull run
This will be the optimal time to sell during this convergence of runs between BTC and ETH
Ethereum have reached target zone at 70000-71000 resistance. Market now not clear....too much money from into low grade shitcoins. Bitcoin within rising wedge. In theory breakout above 71000 can take it fast to 77000 resistance. In theory it is all parabolic and so can grow much higher than we can expect at these levels. Will wait for correction.
As you can see, there's a lot of confluence regarding a possible further upside swing on the ETH/BTC pair.
The cup and handle formation (blue) almost hit the measured target of 0.069 BTC, forming anoter bigger rounded bottom with a measured target of 0.114 BTC. Big falling wedge in play since May '17, with a measured target of 0.151 BTC. We hence might visit those...
ETH BTC broke the weekly resistance of 0.055 in a single candle. The FOMO is real and it pushes the price higher. The next resistance area is 0.064-0.065 and ETH already rejected from there. A weekly candle close above the 0.055 area is highly bullish and opens up the targets for 0.08. Hope you guys holding your ETH bags.
(1,2,3 representing Left shoulder, head and Right shoulder
Clearly a very bullish scenario to catch the move towards the right shoulder assumed resistance at (0.5)
I would be watching lower timeframes for traders to make active moves
ETHBTC from a weekly stance is bullish