I had an analysis on ETHBTC some days ago on daily. It is now on 13 profit. Now on weekly I believe on this new analysis.
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price is getting closer to MA200
Divergence is significant between price and volume candle
Volume candle is out of kumo for 2 candles
Trigger: If price comes into Kumo and Volume candle be up the kumo, then there would be a good entry.
In the last 9 years, in weekly time frame, MACD got positive for 4 times. in 3 times it led to price increase and once it led to price decrease. So now, we can consider for 75%, BTC will experience a price increase.( Do not forget we, should wait for 6 days to see if MACD becomes positive)
In the first run, waves could not stay above MA200 as it was too far from MA200. Now it is near MA200 and getting energy. Price has retrace for 0.61 fibonacci. If price breaks put MA200, then I am waiting for a JUMP.
By the way, I use new version of www.ata.trade for monitoring which crypro has reached to 0.618.
Every time that the market gets bullish, Alts and BTC both break out MA200.
This time the Alts are above MA200 and BTC is below that.If it can break out MA200, The first TP for BTC will be $11950. Even if BTC can not break out MA200, I believe Alts will be bullish.
Both Alts and BTC are Bullish. They both broke their bearish channel.
As you can see the price is in a triangle but volume has broken out its triangle which is a good sign for a bullish movement.
There are two triggers:
1)IF volume candle breaks out the Kumo
2) IFprice breaks the trend line in a valid way.
If the trigger is activated then I will publish another analysis for the targets.
So just now wait to see what happens.
In 4hour, as you see an inverted head and shoulders is forming, but it is not definite. It will be valid when the price break the neckline up in a valid manner. So do not hurry.
In 1D, If the price break out then it is back to bullish channel 1 and will also break the bearish channel 2.
This is just an analysis, DONT FORGET TO CONSIDER STOP LOSS AND TAKE PROFIT.
As you can see there is one head and shoulders in 4h which comes to two TPs, Then we have one double top which can lead to $7500.
This is a personal analysis, do not forget to risk/reward.
There is a hard resistance in the upper line of the fork.By the end of today and forming the daily candle we can get sure if the resistance is hard enough.
As in the fork we believe that the price always get back to touch the median line.