Ethereum Looking very Bullish!!
A little bit ago i posted a TA on ETHBTC and we were trading inside of this descending wedge which is a very bullish pattern and i talked about seeing an upcoming breakout and that is exactly what happened! We are starting to gain some nice momentum coming out of this falling wedge and we are coming up on some very important daily closes for ETH against BTC! We are getting a little stuck right underneath this resistance line at aprx 0.0714 and the reversal pivot point just above there, if we can successfully see a strong push above both of these levels at some point soon we can expect Ethereum and altcoins to really start to move, a close above the pivot point in the coming days is key for us, we will likely see a reversal back into an uptrend coming out of our current short term downtrend. Looking at the bollinger bands we have regained a crucial level and that is the midline on the bands, we definitely want to stay above here and keep this level as support and this opens up the window for us to keep moving strongly upwards and eventually getting to that top band, whenever we see price action up and around the top band there is a high chance we grab onto it and go for a big move to the upside, but that'll be for a future TA as we got some work to do before we see that happen. Now checking out the RSI, we have slightly broken up and above the midline after remaining below in a confirmed short term downtrend for a week or two, we want to make sure to hold this level and even see a retest and be successful before really jumping the gun, but personally i think we are going to see at some point soon some big rallies in the overall crypto market, i believe its just a matter of time everything all around is looking pretty great and if you havent already i highly suggest checking out my recent BTC.d divergence TA's! There is something huge coming! Not financial advice just my opinion!
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