Ethereum Next Leg Up!!?
Ethereum has been following my second scenario yellow path pretty perfectly against Bitcoin, we are currently sitting just under resistance at 0.0769 which we have wicked off of multiple times already, weakening the level everytime. We are sort of moving sideways but i think the momentum is building up for ethereum and its only a matter of time before we smash through here! Then we are looking at resistance at the 0.0788 level, i do think we might face a little trouble here aswell but there are definitely some factors that could send us flying right through but we will have to wait and see when the time actually comes. The bollinger bands are providing us some nice support just underneath the 0.0733 level and then we also have support at 0.0716, so i think its comfortable enough to say we aren't going to go far we see further downside, what i am way more interested in is that top band on the bb's and this is one of the factors that could send us flying through both of these overhead resistance levels. If we continue to push up a little bit more we will be sitting right on this top band and if we can secure a daily close on here the chances of us having an explosive upwards breakout are pretty high, historically grabbing onto that top band majority of the time sends PA flying, same thing but opposite for the bottom band. Now the SMI, we are slowly moving our way up in a bullish squeeze, shown by the black crosses and aswell as the increasing green bars everyday, this shows a stronger bull squeeze and the more we increase the more explosive our squeeze release is going to be (shown by black crosses turning white). Now the Chaiken Money flow, we had a nice bounce off of the midline and strong turnaround to the upside, this shows that investors bought up the dip on ethereum and we have money flowing into ETH and since we are going against BTC on this chart its signaling money flowing into ETH rather than Bitcoin, with BTC.D settling and slowly dropping i think altseason is on the horizon and im expecting it to be an absolutely massive one! NFA just my opinion!
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