ETH Bottom Is In? Long Term Log Pitchfork Analysis
Updated
Just thought I'd share something I found a little interesting. I was looking at the ETH/BTC chart and switched it to log scale. Then I through a pitchfork in lining up the two huge run ups. An whula - it lines up perfectly! The upper line fits resistance twice, while the inner pitchfork lines act as support/resistance multiple times. And now we are hitting the bottom of the lower support line. Weekly Stoch RSI has just formed a bullish cross, and RSI is starting to creep up. Its currently sitting at the most over-sold it has ever been.
This is the first time this support is being tested, so it is far from a sure thing. Now we will have to see if it holds, but it is giving me some hope. What do you guys think?
This is the first time this support is being tested, so it is far from a sure thing. Now we will have to see if it holds, but it is giving me some hope. What do you guys think?
Note
Gearing up for showtime. Let's see if this actually holds.
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.