ETH.USDT (Y20.P4.E9.v2).Looking to go long
Updated
Hi All,
Just posting an update of the previous post which explains a whole bunch of things.
Note the key points;
> Resistance inverted barr trendline, still playing obstacle;
> 21 WEEKLY (red) acting as support, as per BTC;
> We have not confirmed the bull run until we break that trend line;
> Weekly indicators are bullish;
> If and when ETH breaks this resistance trend line, it is likely that it will out perform BTC;
> I updated the horizontal resistance around 500 to potentially pull back;
> Yes, we had a nice ETH rally but weekly ETH.BTC chart below tells us we are not there yet.
> Note the BTC dom. chart, BTC is not dropping any time soon at the macro level, while the Weekly indicators still show upward pressure (previous BTCdom post).
I have it either the 200 EMA on the weekly as resistance, 67% or the 0.382 fib level
These are my thoughts.
Cheers,
S.SAri
Close up view, not the Phoeix Green RSI is above grey energy, indicating very bullish.
++++++++++++ ETH.BTC pairing weekly charts ++++++++++++
Note the following:
indicators > Downward pressure however the bottom trend line acted as support.
Its possible it can be restested again. Note how we broke the 21 weekly EMA (red) and found the 50 EMA as support, hence the downward pressure. Until we get back the 21 EMA on the weekly,
then don't go long with ETH against BTC. At moments like this, for nice bounces, if you can catch them, great.
BTC dominance chart
Note the black arrows. When BTC is going bullish\parabolic, it loses its dominance. When its going bearish at the macro, Dominance goes up.
This is not to say it happens all the way through, you can see the impulses where flipping makes sense. Currently most ALTs are looking for a reversal but still not there. As per ETH.
Just posting an update of the previous post which explains a whole bunch of things.
Note the key points;
> Resistance inverted barr trendline, still playing obstacle;
> 21 WEEKLY (red) acting as support, as per BTC;
> We have not confirmed the bull run until we break that trend line;
> Weekly indicators are bullish;
> If and when ETH breaks this resistance trend line, it is likely that it will out perform BTC;
> I updated the horizontal resistance around 500 to potentially pull back;
> Yes, we had a nice ETH rally but weekly ETH.BTC chart below tells us we are not there yet.
> Note the BTC dom. chart, BTC is not dropping any time soon at the macro level, while the Weekly indicators still show upward pressure (previous BTCdom post).
I have it either the 200 EMA on the weekly as resistance, 67% or the 0.382 fib level
These are my thoughts.
Cheers,
S.SAri
Close up view, not the Phoeix Green RSI is above grey energy, indicating very bullish.
++++++++++++ ETH.BTC pairing weekly charts ++++++++++++
Note the following:
indicators > Downward pressure however the bottom trend line acted as support.
Its possible it can be restested again. Note how we broke the 21 weekly EMA (red) and found the 50 EMA as support, hence the downward pressure. Until we get back the 21 EMA on the weekly,
then don't go long with ETH against BTC. At moments like this, for nice bounces, if you can catch them, great.
BTC dominance chart
Note the black arrows. When BTC is going bullish\parabolic, it loses its dominance. When its going bearish at the macro, Dominance goes up.
This is not to say it happens all the way through, you can see the impulses where flipping makes sense. Currently most ALTs are looking for a reversal but still not there. As per ETH.
Comment
Trade active
Getting there.Short term resistance (in red).
Comment
ETH just did a retest of the lead in trend line on the daily. It looks like its about to go off.
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