Bitcoin RSI Break out and possible Ethereum new ATH
Updated
Hello!
Here we can see two charts. Upper one is Ethereum against dollar (daily) and lower Bitcoin compared to US Dollar (4 hour)
I think we will see movement upwards from BTC. Price has been between 20, 50 emas which are under the price and 200 ema on top on hourly chart (not shown in this picture). I will add picture of this.
Here we can see that the 200ema has worked as support and Bitcoin has broke the RSI resistance but the price hasn't followed it yet.
I'm waiting for Ethereum to break this similar RSI trendline which Bitcoin did already brake so we can get first to 1700usd and then possibly 2 - 2.4k with Eth. (There is alot of space on ETH/BTC pair with little to nothing structual resistance). If and when we break Ethereum ATH I think we will see really strong movement up like we saw with Bitcoin so be ready for it ;)
If BTC breaks we might see weakening on ETH/BTC but I do believe we will see new price discovery on Ethereum as long as we break the top (I'd say in couple of days if there is no suprises)
If you do trades and are not holding for long term use stop loss!
Otherwise you will get your ass burned.
Check out my analysis on Alts before they went crazy
-Jebu
Here we can see two charts. Upper one is Ethereum against dollar (daily) and lower Bitcoin compared to US Dollar (4 hour)
I think we will see movement upwards from BTC. Price has been between 20, 50 emas which are under the price and 200 ema on top on hourly chart (not shown in this picture). I will add picture of this.
Here we can see that the 200ema has worked as support and Bitcoin has broke the RSI resistance but the price hasn't followed it yet.
I'm waiting for Ethereum to break this similar RSI trendline which Bitcoin did already brake so we can get first to 1700usd and then possibly 2 - 2.4k with Eth. (There is alot of space on ETH/BTC pair with little to nothing structual resistance). If and when we break Ethereum ATH I think we will see really strong movement up like we saw with Bitcoin so be ready for it ;)
If BTC breaks we might see weakening on ETH/BTC but I do believe we will see new price discovery on Ethereum as long as we break the top (I'd say in couple of days if there is no suprises)
If you do trades and are not holding for long term use stop loss!
Otherwise you will get your ass burned.
Check out my analysis on Alts before they went crazy
-Jebu
Note
Here is Bitcoin on hourly chart. We have Yellow 20, Brown 50 and the Red 200 emas shown here.
We did break already the 200ema.
There is a small resistance on 34 800 but I do believe we are going to break it cause of the bigger timeframes RSI breaks
Cheers
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.