ETHUSD AWAKE SLEEPING GIANT
After a long winter of consolidation the sleeping giant looks to soon spring back to life.
1) This perfect ascending triangle formed by the bottom of the bear trend and the 0.382 fib is soon to be broken out of.
2) Descending volume shows this to be a consolidation range coming to culmination (the triangle) with the direction soon to be chosen.
3) We are clear above the previous ATH support/resistance @ 863 providing a solid floor that has shown its bullish support recently.
4) Watch the Ichimoku Cloud soon to cross bullish as well if we continue moving up. If it crosses when price is above, that is a very strong trending indicator and will be the last call before the ship takes off.
Trend is your friend and this one is to you a hand trying to lend!
Act accordingly or fourth ever hold your peace.
P.S see attached chart for the correlation between ethusd + btcusd.
btc breakout = eth breakout
1) This perfect ascending triangle formed by the bottom of the bear trend and the 0.382 fib is soon to be broken out of.
2) Descending volume shows this to be a consolidation range coming to culmination (the triangle) with the direction soon to be chosen.
3) We are clear above the previous ATH support/resistance @ 863 providing a solid floor that has shown its bullish support recently.
4) Watch the Ichimoku Cloud soon to cross bullish as well if we continue moving up. If it crosses when price is above, that is a very strong trending indicator and will be the last call before the ship takes off.
Trend is your friend and this one is to you a hand trying to lend!
Act accordingly or fourth ever hold your peace.
P.S see attached chart for the correlation between ethusd + btcusd.
btc breakout = eth breakout
Note
Bullish hammer on the daily, looking upNote
Can't beat the correlation
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Related publications
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.