Ethereum has hit .06 BTC
Is this the top here? Our logarithmic chart shows us this should be the short term top, but will not be "the blow off top". Meaning a correction is likely, but will be short term.
In my opinion, we should see a short term reversal back to the support zone, just over .05 BTC.
This can go down further but will remain a short term...
start of April and especially start of May has been good to Ethereum over Bitcoin
and could very well continue
but also could be too fast too soon
i keep my % allocation to cryptos to a certain level
but for short-term (micro optimization/alpha chase)
i might need to rotate (short-term) to Bitcoin from Ethereum soon
might wait for more signals at lower time frame...
After a break out of the bear market, we saw a beautiful retest, which initiated the entry we were waiting for, and a melt-up parabolic move. Now it's time to decide where we are going to take some profit off the table. and where should be looking to get back into this trade. Here is my TA on this, what do you think? Feel free to send your TA in the comments too.
Tactical horizon (1 to 3 Month)
A larger ETH outperformance move is expected towards 0,085 before 0,134
Key daily technical element :
- Moving average are support at 0,40
- Elliot wave analysis confirmed an active follower momentum in progress with target at 0,0850 min
- RSI is above 50% with potential and no divergence
Buy any dip above...
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.
The title really says it all. ETHBTC within a 3 week horizon, broke 2 major barriers and the future looks brighter than ever.
This chart is on the 1W time-frame and as you see the current candle just broke above the Channel Up that started back in late 2019.
2 weeks ago the price broke above the 4 year Lower Highs trend-line which has been a Bear Cycle's...
moved most btc exposure into alts for the month of may, historically a strong period for alts as btc cools heading into summer
will reevaluate position if this rolls over
goal is to accumulate more btc
Even though it looks like a bull flag, we are expecting a break down. If it does, we will be converting our BTC holdings to ETH.
Our reasoning for a breakdown is that ETH is quite over extended, BTC will likely recover in the shorter time frame at a higher pace.
Given the amazing bullish sentiment for ETH, we recognize that we are probably wrong.
Ethereum has officially blown the top off of this Livermore accumulation cylinder.
The question now is, will it continue up to .1 and beyond now or will we get a pullback first ?
We've printed a strong reversal candle on the last 4-hour. There's a good chance eth just does a tiny bit of consolidation before some major continuation. But if btc falls and...