In my opinion, is all a matter if ETH can close the week above the ascending channel and the 200 week moving average. The 200 week moving average is currently acting as resistance and breaking through it might depend a lot in the ability of BTC keeping a low volatility for the time being.
ETH has been inside the ascending channel for quite some time now and finally broke above it. Remember, it has failed to do so in August 2020 (at around 0.04BTC). Also, we have been above and moving away from the 20 week moving average for the past 3 weeks now and we are already with (approx.) 76% max. gains since the beginning of the year.
For the long scenario the possible targets I'm looking for are (i.e. descending pitchfork levels):
T1 approx. 0.052
T2 approx. 0.075
T3 approx. 0.11
Again, keep an eye on price action and how it behaves around the 200 week moving average and the top of the ascending channel.
ETH has been inside the ascending channel for quite some time now and finally broke above it. Remember, it has failed to do so in August 2020 (at around 0.04BTC). Also, we have been above and moving away from the 20 week moving average for the past 3 weeks now and we are already with (approx.) 76% max. gains since the beginning of the year.
For the long scenario the possible targets I'm looking for are (i.e. descending pitchfork levels):
T1 approx. 0.052
T2 approx. 0.075
T3 approx. 0.11
Again, keep an eye on price action and how it behaves around the 200 week moving average and the top of the ascending channel.
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BTC volatility doing damagesNote
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Back inside the channel. I'm curious to see how this plays out until Jan 31 (Sunday).Note
Damn... crazy times.Note
Elon's rocket has landed perfectly ;)
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Just... wow!Note
Quite the recovery but we are still inside the ascending channel and below the 200 week MA. Let's see how the weekend goes.
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Horizontal green bar once support is acting as resistance now and 200 hour MA too. BB is squeezing so I'm expecting a move soon.Note
The last weekend sucked unlike the previous 5. The Elon/Grayscale's candle on Friday (January 29th) was cool though. Note
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Volume sucks thoughNote
Zoom out: Good move up but still inside ascending channel and below 200 week moving average.Note
Zoom in: we are back between the green/red horizontal bars and above the 200 hour moving average.Note
Back at 200 week MA resistance.Note
Zooming in: Double tested the 200d MA. Pierced through the resistance in red, came back to test it, and is trying to move further up. Looking good for now although I'd like to see more volume.Note
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New idea!
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Back to the green support
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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.