If you were around the crypto space in early to mid 2017 you'll remember ETH had a hard time with the 300 level. It would move up then correct back down. Then go under and move back up. It flirted with the 300 - 330 level forever before finally making its move.
Well now we are back. But things aren't like they were back in 2017. Crypto as a whole has grown. Gone...
We have a bearish flag that BTC has been following. However, we also have the 150 moving avg forming a golden cross formation with the 200 moving avg. Not your usual golden cross with the 50 ma crossing the 200 ma but none the less it could provide some boost to BTC. This means it's decision time for BTC and it could go either way.
If BTC pops through the top of...
Ethereum has just broken through its bearish downtrend and is about to start a new trend. The downtrend started in early Jan. 2018 and hasn't been broken since.. until now.
A Golden Triangle has formed with the 50 day moving average crossing through the 200 day moving average. This is another bullish sign.
Look for ETH to rise to at least the $200 level. Though...
In the short term we will reach 6000 soon.
The golden triangle formation is going to help push BTC there.
I would look for a dip after we touch 6k.
Have a good day.
You can see the 50 Day Moving average (Orange line) is fast approaching the 150 Day MA (Red Line) to form a Golden triangle. You can also see that BTCUSDT has broken out the top of its previous bullish channel (blue straight lines). There is a good chance of more bullish movement if the 50 MA crossess the 150 MA. IF that formation takes place in the coming day or...
BTCUSDT just passsed through a huge resistance level. Time for some growth.
I know a lot of traders will put the next resistance a lot lower (4200-4300) but I don't see any reason why it can't go higher to the next psychological level of 5k.
BTC is on the verge of testing a long time downward trend. I've drawn a wedge with the bottom consisting of it's all time growth trend and the top it's current downward trend. We are closing in on the end of the wedge, which means decision time. Very rarely does the price go into the end of the wedge. It usually breaks up or down before that point.
We are...
