ETH and BTC trend prediction using reverse analytic on ETHBEAR

Updated

If you think BTCUSD chart is kind of chaotic, so try a different simple view may help alot. As you can see, ETHBEAR is clearly in a descending triangle pattern, tradditionally its a bearish sign, but also sometimes breakout as bullish. But in this case, the current local trend is also in a rising wedge pattern, which is bearish also, and very likely to retest the 10.5 level again, and if the support fail, we may see ETHBEAR break out in couple days, thus ETH and BTC will become bullish, this also compliment the bullish flag on BTC from Mr EXCAVO's idea.

Note

Like I said sometimes this descending triangle breakout bullishly, BTC.Dominance is rising again, ETH may come to test 244 again

Note

Thanks to BTCUSD strong fight, it will retest the downtren again and we will se if its a fail breakout or not.
As you can see, when BTC slowly go down for a day or two, not a straight dump, people will lose patient and eventually FOMO sell their alt coins first, hence the price go down and BTC.Dominance goes up, thats the effective shaking, much more than the dump which mostly catch stop losses.

Shavy

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.