ETHBTC descending triangle
Almost at the apex of its descending triangle (or a bullflag, depends on how you draw it). The first higher high would be considered the breakout - price crossing 0.0641 BTC. You could set an alert or a stop-buy there. Once that happens, the closest resistance levels would be:
0.08-0.0825 - top of the pattern;
0.1 - major psychological level;
0.115 - measured move, length of the flag pole.
Pattern would be invalidated if the price dropped below 0.057 BTC after the breakout.
But I have to admit, I don't see a point of waiting for the proper breakout here. Almost half of my portfolio is in ETH already. It seems like such an obvious trade. EIP1559 makes Ethereum deflationary, and at the same time significant amount of volume is being forced out from centralized exchanges into decentralized ones. Most of retail doesn't mind the KYC thing much, but american "whales" will have to choose - subject yourself to ridiculous taxes, filing every trade as a taxable event, or move to Defi completely. You don't need a lot of brainpower to see what's going to happen, and ETH will win from this immensely.
0.08-0.0825 - top of the pattern;
0.1 - major psychological level;
0.115 - measured move, length of the flag pole.
Pattern would be invalidated if the price dropped below 0.057 BTC after the breakout.
But I have to admit, I don't see a point of waiting for the proper breakout here. Almost half of my portfolio is in ETH already. It seems like such an obvious trade. EIP1559 makes Ethereum deflationary, and at the same time significant amount of volume is being forced out from centralized exchanges into decentralized ones. Most of retail doesn't mind the KYC thing much, but american "whales" will have to choose - subject yourself to ridiculous taxes, filing every trade as a taxable event, or move to Defi completely. You don't need a lot of brainpower to see what's going to happen, and ETH will win from this immensely.
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