🔥Ethereum New Bullish Leg 10x Potential🔥OKX:ETHUSDT.P OKX:ETHUSDT
I've liked Ethereum- for a long time, including in bull markets it tends to be my biggest position due to its higher valuation than BTC...Not in face value, but in Growth Potential
In this idea I want to bring to the community the strength of a Bullish crossing in the TSI (TRUE STRENGTH INDEX)
I believe in a new BullMarket for cryptocurrencies where OKX:BTCUSDT should multiply up to 8x but when I look at OKX:ETHUSDT I see potential greater than 10x!
So it's possible that once again OKX:ETHUSDT becomes my biggest position!
Currently OKX:BTCUSDT is graphically stronger than OKX:ETHUSDT , but we know that the explosive potential of Alts is scary!
So, in conclusion, these are, in my reading, the best points to buy OKX:ETHUSDT
The first point is if the price makes a deep dive to 1000
The second point is based on a shallow correction and is between 1720-1480
Good luck buying the dips or even better luck earning ETH from OKX!
🔴Disclaimer: The comments above reflect solely and exclusively my opinion, this is not a recommendation to buy or sell. Just a series of published studies, so that together with the community we can discuss operational tactics.
Good trades to all, and see you next time!
Ethtothemoon
ETH has Perfect rising channel on 4 hourly timeframe.As i mentaioned one week ago in my post we are in rising channel on the weekly timeframe.
Rising channel on the weekly is going from top of the bull run in 2018 and has 3 perfect touch points.If you want you can check it on my profile.
However on the smaller 4 hourly timeframe we have another one with 3 touch points on the upside and downside.
We are at resistance right now and also RSI on 4h is overbought so we may come down to 2810$ to test previous resistance as support.
What do you think about my opinion?
If you like my ideas please follow me and like the post, i am new to Treadingview but i have 6 years expirience in trading.
ETH TO THE MOON!
Is the Ethereum “Flippening” Real?For those unfamiliar with the term, "flippening" alludes to the point in time when Ethereum (ETH) outpaces Bitcoin (BTC) in market capitalization. Well, as of December 2, 2021, Ethereum market capitalization is less than 50% away from flipping Bitcoin.
Market Cap Comparison
According to CoinMarketCap data, Ethereum's market cap stands at over $557 billion versus Bitcoin’s $1.1 trillion market cap. Based on this market cap, for the flippening to really happen, ETH’s price would only need to rise to approximately $9,000, while at the same time, Bitcoin price would need to remain unchanged.
ETH/BTC Chart Analysis
Following Bitcoin's April 2021 crash, the ETH/BTC chart has bottomed out, and the price of ETH has outperformed Bitcoin.
Here are three technical factors in favor of Ethereum’s Flippening:
1. Currently, ETH/BTC price is in the process of breaking out of a rectangle pattern, in which the ETH is price soaring faster than Bitcoin's price.
2. The golden crossover signal on the ETH/BTC weekly chart happens when the 50 moving average crosses above the 200 moving average. This is a powerful bullish signal.
3. Ethereum is trading above its previous all-time high. Actually, ETH broke above $4,384, has successfully retested it, and the bulls managed to defend that level which is now acting as support from where prices are currently soaring.
Looking Ahead: Ethereum has previously come as close as 80% to Flippening, will it succeed this time?
Ethereum TOWARS $4,000 ??Ether started to retrace earlier in the week, following a failed attempt to sustain price action above $3,600. It became difficult to hold support above $3,500, resulting in a further deep to $3,400. correction was healthy for Ethereum , whose bulls needed to take eth to $4,000.
SUMMARY ::
Trend: Bullish
Support: $3,400 & $3,250
Resistance: $3,850 and $4,000
Ethereum On Its Way To The All-Time HighEthereum broke above the $1,155 resistance, and retested that level! Now that it held, ETH is on its way to reaching its all-time high once again!
Breakout?
The second-most capitalized coin on the market started following Bitcoin closely by growing quickly in a short period of time. Ethereum is already up by more than 60% this year.
The coin was previously rejected by the $1,155 resistance on January 3rd. This is the last resistance in Ethereum’s path to the all-time high. Therefore, a breakout of this level is critical.
A daily candle has already opened and closed above this level, which is a very positive sign. The price has reversed and pushed upwards after retesting this level, thus confirming it as a support. Therefore ETH is on its way to the all-time high again. If Bitcoin continues its uptrend, it is likely that Ethereum will also reach its all-time high soon.
What To Do Now?
If you are a support and resistance trader, and you are already in the trade, you may consider selling when ETH is approaching the all-time high, which will probably act as a strong resistance.
If you prefer to trade using technical indicators, then you can take this as a confirmation of an uptrend. Trend-following indicators such as moving averages, Parabolic SAR, and MESA are excellent indicators that you can use to catch the big moves in an uptrend.
Top 5 Reasons To Be Bullish about ETH now!My Top 5 reasons to be bullish about ETH:
1) Important support on 189.09 due to ABCD pattern is not broken because there was no a day candle below this level.
2) We can see the Morning Star pattern on the Sep 09 daily candle
3) We can see abnormally high-growing trade volume during the last 7 days which is a strong sign of the trend change.
4) The drop of buyers who bought ETH in extraordinary huge volumes during Sep 13-14, 2017 had happened.
5) RSI bullish divergence.
MY SUGGESTION is STRONG BUY!
P.S.
The downtrend may continue if ETH close this week below 189.09 (10% possiblity).