In the linear plot, ETHUSD has already broken out of the downtrend channel set by the two peaks at the beginning of January's decline. However, in the log plot, the top line of the channel is just above us, intersecting with the 700/710 peak from earlier this week. I'm expecting resistance there (or shortly before) in the next couple of days, so keep those things...
After a long down-trend, ETH starts another rise. The bears are formidable, and progress is slow. A pivotal decision point coming up at the intersection of the historical peaks and lows (red lines) at which point it will be setting new supports either way it goes. More recent influences could push the decision point out a bit (orange) but the winds of change won't...
We see a long term support line, and multiple impulses on the BCH/BTC chart. We're converging toward a point so breakout soon is likely. BTC has a lot of whales but BCH has better fundamentals. Let's see how this plays out...
