$ETH #ETHEREUM So it's getting interesting! #AltSeason2020
#ETHBTC is trying to move above the daily 8MA. So it's getting interesting!
I hate it when I have to provide alternative counts (last study) but that's just a part of EW. Either way, we had a truncated 5 which concluded the BEAR Cycle or this is just a subwave from wave 4.
Question is: Was this an ending diagonal? or truncated 5?
The bullish divergence on numerous timeframes signaled that a cycle was complete so here we are, $ETH is turning bullish.
First target is obviously R1 followed by the zone between 0.0205 and 0.021 (Box Blue)
There is no reason to become overconfidently bullish when I look at the weekly level. We're still below the 5 and 8 MA. However, the week isn't over yet!
I will update the weekly when we close above those MA's
$ETH #ETHEREUM #ETHBTC #CRYPTO
Ethbtcsignals
ETHBTC Time to shoot up?Well it is possible based on the two patterns this chart shows. The similarities are uncanny with the Fibonacci levels holding and the 1D MA50 (blue line) dictating the price action.
Based on that (barring one last minor pull back), ETHBTC should see a sharp rise in the coming months once the 0.382 Fib level and 1D MA200 (orange line) break. I am expecting 0.04200, which would fill the January Gap and that is even a moderate target based on the 2016/ 2017 fractal.