H4 - Bearish trend pattern followed by a pullback.
No opposite signs.
Until the two strong resistance zones hold my short term view remains bearish here.
H4 - Strong bullish momentum.
Higher highs.
No opposite signs.
Until the strong support zone holds I expect the price to move higher further in the short term after pullbacks.
H4 - Strong bullish momentum.
Higher highs.
Currently it looks like a pullback is happening.
Until the two strong support zones hold my short term view remains bullish here.
*Disclaimer, this is not financial advice, just my opinion as a crypto enthusiast.
ANALYSIS
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.
PATTERN CHARACTERISTICS
*The base of the cup is very smooth (rounded) rather than jaggedly or V-shaped which gives this pattern more...
Today we have seen Bitcoin and Ethereum come under selling pressure as Elon Musks and The Chinese Central Banks comments on Bitcoins caused investors to sell the Cryptocurrencies.
However, the pullbacks in price are actually within the average 1 Month Historical volatility of both coins!!
This is really important to understand so please watch, so now is actually...
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In Daily timeframe, the trend is clearly bullish in general!!!
In H4 timeframe there is a simetric triangle that was updated today, and we identify a pull back and another long position to entry in Ethereum, I put anohter buy order limit at the exact zone where I entry in my first entry on Ethereum because Ethereum has the possibility to...
