ETH.BTC (Y20.P5.E1).MACRO STRUCTURE.TA
Hi,
This is a continuation of the previous post on ETH.BTC pairing, link supplied below.
After some time, I thought I revisit this pair to plan a strategy around the ALTs again and hopefully having a clearer idea on what's going on.
The BTC dominance chart at this point is not easy to read so looking at a sample of Alts and their BTC pairing might do the trick.
Those who know me understand I apply the inverted barr structure regularly and\or the bmp and run strategy along with triangle breakouts and looking for confluences with MA and Fib levels, we can see where ETH will find resistance and support.
I'm not planning to put much commentary to this post as the notes on the chart do the talking.
Key points to note out.
a) upward channel for our current price action and the associated resistance levels, including the lead in trend line;
b) MA's have mostly have taken below the current price action except for the 100 MA, representing resistance as well, along with the fib 0.618 retracement level;
c) With the indicators, I have cross over of the WT trend wave and with the RSI, its ema's are looking to cross over, yet not confirmed.
d) RSI
f) We have a new trend line along the top area which may ( I feel confident it will) play resistance sometime next year and might take 1 or 2 attempt to pass it.
This scenario can be observed on many coins including BTC;
f) The yellow band in the middle of the chart is the main resistance level;
Daily chart
Note, low volatility and it will likely get more so.
RSI structure and Phoeix in the upper quadrant, still upward side pressure;
My thoughts:
============================
Someone gave a good presentation on ETH.BTC pairing on the internet where they stated, we might experience a long drawn out consolidation like we did with BTC and the 10K level.
So far it seems that way. He made the point that towards that period, towards the end few weeks is where the Alts including ETH made a break to the upside and we had that Alt season;
It might be the case here if BTC doesn't drop below the 18k.
I should add that if price breaks the channel to the down side, the situation changes and we need to reassess.
What are your thoughts, please share.
Please give me a like or tick for this post.
Regards,
S.SAri
Overview:
PREVIOUS ETH.BTC post
This is a continuation of the previous post on ETH.BTC pairing, link supplied below.
After some time, I thought I revisit this pair to plan a strategy around the ALTs again and hopefully having a clearer idea on what's going on.
The BTC dominance chart at this point is not easy to read so looking at a sample of Alts and their BTC pairing might do the trick.
Those who know me understand I apply the inverted barr structure regularly and\or the bmp and run strategy along with triangle breakouts and looking for confluences with MA and Fib levels, we can see where ETH will find resistance and support.
I'm not planning to put much commentary to this post as the notes on the chart do the talking.
Key points to note out.
a) upward channel for our current price action and the associated resistance levels, including the lead in trend line;
b) MA's have mostly have taken below the current price action except for the 100 MA, representing resistance as well, along with the fib 0.618 retracement level;
c) With the indicators, I have cross over of the WT trend wave and with the RSI, its ema's are looking to cross over, yet not confirmed.
d) RSI
f) We have a new trend line along the top area which may ( I feel confident it will) play resistance sometime next year and might take 1 or 2 attempt to pass it.
This scenario can be observed on many coins including BTC;
f) The yellow band in the middle of the chart is the main resistance level;
Daily chart
Note, low volatility and it will likely get more so.
RSI structure and Phoeix in the upper quadrant, still upward side pressure;
My thoughts:
============================
Someone gave a good presentation on ETH.BTC pairing on the internet where they stated, we might experience a long drawn out consolidation like we did with BTC and the 10K level.
So far it seems that way. He made the point that towards that period, towards the end few weeks is where the Alts including ETH made a break to the upside and we had that Alt season;
It might be the case here if BTC doesn't drop below the 18k.
I should add that if price breaks the channel to the down side, the situation changes and we need to reassess.
What are your thoughts, please share.
Please give me a like or tick for this post.
Regards,
S.SAri
Overview:
PREVIOUS ETH.BTC post
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This community has signals now but with no risk management comms.
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This community has signals now but with no risk management comms.
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