ETH and The Parabolic Fight

I posted this line past week, don't remember when :). But more important, even though alts looked weak again today (posted some things earlier today about btc and alts), ETH might be weak because its against that resistance line. Mentioned it in the past, curved line are always subjective, but it does look pretty legit to me. Now, when price stays like glued to the resistance (so no real rejection), it's often a sign that it eventually breaks.

Parts of what i said about ETH in my public channel:

Alts, still disappointing must say, eth wasn’t even able to reach the horizontal resistance around 2000/2020. I don’t like this, since weak alts past month have been giving the real answer of the direction of this market. But, if bitcoin can close clearly above 33k, I might give it a second chance tomorrow. Eth also has a big resistance on the daily chart, parabolic shape. Will show it tomorrow, at the moment moving around 2050/2100. That one has been giving pressure past 2 weeks. Maybe it means something real if that breaks coming day or 2

This is what i mean, first resistance around 2050/100. Think a break of 2300/400, would prob be a big win

If this would happen, a break of the 2100ish and we get a big pump (if its a weak pump it might not be a real parabolic), think the 2600ish would be like the 40000/42000 resistance of BTC.



Short term, also bit guessing, but think this might be what we can follow. Ideally low is set already, but maybe its making a small parabolic shape here as well. Think as long as it doesnt make a big drop, and stays above 1900/1920, it could work. First resisatnce is that white are around 2050/2100. Now, if this 2100 breaks, it really has to pump big, nothing small or weak like we seen lately.

So for now, still all risky since alts have been VERY dangerous. But if bulls can break the first smaller resistance around 2000, there is a chance it might work. Until then, think we need patience


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