ETHBTC WHAT IS NEXT ?
Hello Traders!
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- If we look on ETH with 1D time-frame chart we can see that a great impulse has started since 29 March ( golden cross ) on the demand zone 0.010$-0.020$
buyers took the price high till 0.083$ got rejected on this resistance level . After our first impulse movement, we are currently in a correction phase in the shape of an ascending triangle since 14 May.
- In order for a second impulse move we need to see a strong candle close above gray zone 0.083$, if buyers failed to push the price higher we might see a rejection towards last support level on 0.075$ - 0.077$.
-Note that ETH is showing strength, compared to BTC
-While BTC was trading inside a falling channel on Daily, ETH is holding its ground.
-We need to see ETH going upward in order for the alts to perform very well while BTC holding its ground.
Thank you, good luck Traders!
- Please push the like button if you like the content or drop a comment to share your idea!
- If we look on ETH with 1D time-frame chart we can see that a great impulse has started since 29 March ( golden cross ) on the demand zone 0.010$-0.020$
buyers took the price high till 0.083$ got rejected on this resistance level . After our first impulse movement, we are currently in a correction phase in the shape of an ascending triangle since 14 May.
- In order for a second impulse move we need to see a strong candle close above gray zone 0.083$, if buyers failed to push the price higher we might see a rejection towards last support level on 0.075$ - 0.077$.
-Note that ETH is showing strength, compared to BTC
-While BTC was trading inside a falling channel on Daily, ETH is holding its ground.
-We need to see ETH going upward in order for the alts to perform very well while BTC holding its ground.
Thank you, good luck Traders!
Trade closed: target reached
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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.
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.