Updated

ETHBTC: Long opportunity may be looming.

(Monthly chart) ETHBTC may have significative upside, up to 0.08+.
It may break up or grab more some more liquidity around the 0.05 mark (lower bound of BB).

Either way, i see more upside than downside. Two possibile Long entry points: on confirmed resistance breakout and/or on weakness through scattered orders in green support area.

Keep in mind this is a MONTHLY chart, hence this is a long term analysis.

Chart image (Since Tradingview usually messes the chart):

Summary:

Close to resistance
Red TD count 8
CMF approacing zero, rising.
RSI rising.
Stoch RSI oversold, rising.
MACD flattening
Lower BB flattening close to 0.05

Note

Watch it.

MACD still intelocutory, but look at CMF.
See what happens when it breaks-up zero level.

Note

Update (M): look at how RSI and Stoch RSI both turn up now ... it's just a matter of flipping MACD now.

If february closes like this it may pave the way for a pretty bullish trend till last quarter of 2024 at least. +50/100% upside possible.

At the moment the upper route seems likely.
Anyway, watch for a breakout, it should not be that far.

Note

Focusing on "Plan A" for the moment.
See the ascending triangle, whose natural target sits slightly above 0.07.

Watch it.

Note

Plan A failed, whereas Plan B is shaping up pretty well so far.

Test of support accomplished, descending channel awaiting break-up and bullish divergence vs. RSI. Watch it.

f-73

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

f-73