ETH|BTC - Start of the Bullrun
Ethereum just broke above the monthly resistance level that's holding it back from becoming altcoin/bull market season.
Going into the TA, we see that just like XRP and all these other top cryptos, Ethereum bottomed out on Sept. 6th along with all the other altcoins because Sept. 6th on the BTC.D chart peaked at exactly 73%.
Only indicator that I have marked on the chart besides my TA are the 100MA and the 200MA. I personally think these two moving averages can basically give you a very good understanding of the market sentiment and where the market is heading.
The 100MA (green) is about to crossover the 200MA (black) for the 1st time since May of last year. Everybody on Binance uses these moving averages, the 99MA actually instead of the 100MA but that doesn't really matter.
Anyways, the fact that Ethereum didn't find this bottom support again in the beginning of the year means that this coin is extremely bullish and we should see some HEAVY gains in these next few weeks.
Today we're waiting on the daily close to see if ETH/BTC can close over this monthly, and that'll paint us a really nice picture of where this coin is headed. Even if it doesn't close over it could consolidate right under the level until it pops off like a launch pad to the next resistance just like clockwork.
If you'd like to join any of my free public chats please check out the links below, theres a good group of us that trade altcoins like Ethereum and XRP to the price of Bitcoin. And if you'd like to sign-up on Binance to start trading these altcoins the link is in the description as well. You get a 10% kickback on your commissions everytime you trade, feel free to check it out. Last note, thank you for all your continued support I really do appreciate it. From everybody liking the posts to private messaging me telling me I changed their financial situation into a positive is unbelievable.
Let's keep this winning streak going in 2020!!
As always please do your own research, I am not a financial advisor.
Going into the TA, we see that just like XRP and all these other top cryptos, Ethereum bottomed out on Sept. 6th along with all the other altcoins because Sept. 6th on the BTC.D chart peaked at exactly 73%.
Only indicator that I have marked on the chart besides my TA are the 100MA and the 200MA. I personally think these two moving averages can basically give you a very good understanding of the market sentiment and where the market is heading.
The 100MA (green) is about to crossover the 200MA (black) for the 1st time since May of last year. Everybody on Binance uses these moving averages, the 99MA actually instead of the 100MA but that doesn't really matter.
Anyways, the fact that Ethereum didn't find this bottom support again in the beginning of the year means that this coin is extremely bullish and we should see some HEAVY gains in these next few weeks.
Today we're waiting on the daily close to see if ETH/BTC can close over this monthly, and that'll paint us a really nice picture of where this coin is headed. Even if it doesn't close over it could consolidate right under the level until it pops off like a launch pad to the next resistance just like clockwork.
If you'd like to join any of my free public chats please check out the links below, theres a good group of us that trade altcoins like Ethereum and XRP to the price of Bitcoin. And if you'd like to sign-up on Binance to start trading these altcoins the link is in the description as well. You get a 10% kickback on your commissions everytime you trade, feel free to check it out. Last note, thank you for all your continued support I really do appreciate it. From everybody liking the posts to private messaging me telling me I changed their financial situation into a positive is unbelievable.
Let's keep this winning streak going in 2020!!
As always please do your own research, I am not a financial advisor.
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