ETHBTC Weekly Idea.
Updated
Hey! I wanted to post some ideas about Ethereum and this bullrun, let me start saying we've seen ETH run after BTC tops, so IF and let me clarify this, IF BTC has already topped, we might be initiating ETH launch countdown.
We've followed this Channel after the ETHBTC capitulation, as you can see, I have a logarithmic scale on my chart so if you wanna draw this one on your acc, make sure Log is ON.
Since we've been on this channel we've lost it twice, weeks after we've topped the channel, or whenever the price is below 20W SMA, as you can see now, we've come into our channel and could be retesting it, if we retest it and BTC doesnt go "kaput", we might be visitting the top of our channel once again.
Its about a 50% from the retest against BTC...( 0.05 )I think that's kinda crazy... so before that we first have to overcome the middle of the channel resistance, as we can see, the price trends to rally for a little bit to come down into the lower part of the channel, that's a big resistance which also gets supported by a 0.5 and a 0.618 fib retracement level (you can see the red line where it crosses with it).
If we manage to overcome that obstacle then we could see a big green candle, just as previous times.
I hope you guys could take use of this chart! be carefull tho.. this april is gonna be a little tough
Im trying to get into the chat, I think you can make it there without paying idk... either way I'll keep posting charts like this.. sometimes I just sit on the 1min chart and start drawing stuff, would like to post it like Euro Motif and Stallion, great guys! I always read them!
Would love to read some comments about it tho!
We've followed this Channel after the ETHBTC capitulation, as you can see, I have a logarithmic scale on my chart so if you wanna draw this one on your acc, make sure Log is ON.
Since we've been on this channel we've lost it twice, weeks after we've topped the channel, or whenever the price is below 20W SMA, as you can see now, we've come into our channel and could be retesting it, if we retest it and BTC doesnt go "kaput", we might be visitting the top of our channel once again.
Its about a 50% from the retest against BTC...( 0.05 )I think that's kinda crazy... so before that we first have to overcome the middle of the channel resistance, as we can see, the price trends to rally for a little bit to come down into the lower part of the channel, that's a big resistance which also gets supported by a 0.5 and a 0.618 fib retracement level (you can see the red line where it crosses with it).
If we manage to overcome that obstacle then we could see a big green candle, just as previous times.
I hope you guys could take use of this chart! be carefull tho.. this april is gonna be a little tough
Im trying to get into the chat, I think you can make it there without paying idk... either way I'll keep posting charts like this.. sometimes I just sit on the 1min chart and start drawing stuff, would like to post it like Euro Motif and Stallion, great guys! I always read them!
Would love to read some comments about it tho!
Note
Hi guys! it's me again, just some quick updates, we've reached the 0.618 fib retracement level, we went to this level and made a little ping, I hope we can stay some weeks in this level to make a good support, also, seems like BTC is about to make it to the top and go down, we know ETH can go nuts when BTC makes its ATH and we go into a bear market, so if we can keep going up for a little bit while ETH consolidates a bit, we could see some movementes between 0.618 and 0.768 till we touch our channel again, or just go nuts and break it all. Hope this chart is being informative for someone, not financial advice tho..! I'll keep posting here even if no one comments, would love to see someone say something!
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