ETN is in a massive rally which is closing on our first significant resistance at 10k satoshi.
The indicators are looking sexy, volume is up, risk appetite is off the chart. ETN is ready to explore higher levels.
I don't see much resistance until our first target, hence, enjoy the ride.
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ETN is currently within a falling wedge.
Once it free itself we expect to see a big comeback.
Enjoy the ride and don't be too greedy.
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On the daily chart the price is in the horizontal accumulation channel. Now the price has formed a symmetrical triangle, to determine the purpose of the triangle, we draw a parallel line of the lower base, and measure the value of the base of the triangle, this will be our goal. Also, at the level of 70 is an accumulation of liquidity (horizontal level of...
ETN bottomed on August 14 and 15 and has been in up trend against BTC since then. Big volume spike confirms the downtrend to be over as the bulls came in and bought it up. RSI on steady climb up as well and as it breaks the resistance points will go higher and higher.
ETNBTC daily and weekly is on a Bullish Wedge pattern.
If the bullish movement successfully start, the resistance ahead are Fibo- 0.61, 0.78, and the first heaviest one on the way is Fibo-1.
If it manage to breaks these resistance lines then the next heavy resistant would happen between Fibo-1.6 and F-2.0.
After that, the next big target could be 2.6 and...
Electroneum has a similar pattern forming that occured just before its last big push in May. (circled)
- We have the rounded bottom.
- Uptick in the 9 & 21ema (yellow & green lines)
- Break of the large descending triangle.
- Break of resistance.
- Rsi upticking and now above 50.
- Increase in volume.
I'm expecting that we see a slight retracement below the...