Ethereum Explosive Move On The Way!!
Ethereum is looking absolutely amazing against Bitcoin right now and over the past while, we recently had a little accumulation phase where we saw sideways and slightly downwards movement where we built up momentum and now we are breaking out and starting to make a nice run upwards! All shown by my second scenario yellow path, personally think this is just the start for ETH and the altcoins as BTC dominance is looking very bearish! We are approaching resistance at 0.0769 where we could possibly face some trouble and then same thing slightly above around 0.0788, however i don't believe these levels pose a serious threat to ETH because of the huge amount of momentum i think is coming into the market soon. Look at the bollinger bands we are once again starting to climb that top band and for tonights daily close its looking like we are going to be closing directly ontop of here opening the door for an explosive move to the upside likely shredding through these resistance levels! The MACD, we just had a bullish cross a day ago and we are already seeing a very nice increase in our green bars on the histogram, this is exactly what we want to see and shows us the bullish momentum is growing! The MA's right away are giving good separation showing once again some big momentum coming and the more we see the blue move away from the orange the less likely we are to have a near term bearish cross, this also allows price action to have a couple red days for a cooloff without triggering a bear cross! Not the Squeeze momentum indicator, we are only on our first day of green bars on the histogram and this is a great sign that could showing us that a big run is on the way for ETH and the alts, since we are already significantly up on the month against BTC this is a very good sign considering we are only on the fist day of a possible bullish squeeze! The big part about this indicator is the squeeze release which is shown by the black crosses turning white, in this stage price action gets an explosive move to the upside and it is quite possible that we see an extended bull squeeze or even a double cycle bull squeeze! So stay tuned as i continue to update yall! Not financial advice just my opinion!
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