As expected from previous analysis BTC dominance lost steam and dropping right into the demand zones. Dollar Cost Average into both zones is always the better way to go. Luckily there are only two buy areas I really see BTC reversing from. Of course BTC doesn't have to go there but IF it does this is where I will be scaling in for long positions.
Everything written on my charts at the areas I plan to scale in. Maybe they’ll hit or not but this is where I believe we’re heading. Won’t get this opportunity again.
Expect price to enter demand zone by clear confirmation of double upward channels that we are in a very bullish trend. In the big picture price is very high on a resistance level on the weekly chart but given the very bullish momentum we've had recently I think it's safe to try and go long on this position if can enter my demand zone.
Charts are saying that ETH and BTC are over extended. Although I love that it keeps moving up but as we know the higher they rise, the harder they fall. We are now in an all time high supply zone. I do expect profit taking to go on especially with Bollinger Bands so stretched out. I'll be exiting partially here and re-entering either on the dip or the break of the...
Weekly resistance looks to be holding strong on ETH and stopped it from breaking $683 area. Bearish signals have presented them selves it does seem like ETH is running a bit out of steam. The channel in which it's trending up indicates that we are still in bullish trend.
Notice how the channel lines line up perfectly where the $500 buy zone is. This is an area...
We've hit a weekly timeframe support level which price seems to be have a hard time going though. Dropping down to the 1-hour chart I've drawn in several tools to help determine best for my next course of action and that's to wait for ETH can reach the $400-$500 again so I can buy up.
Price since hitting the weekly resistance zone has present price reaction in a...
BTC has certainly has its run up but now seems to be stalling in a very key area of resistance. This is not a bad thing but something that is indicative of health rise. Nobody for sure can tell you where price will go next but there are patterns present in this chart the indicate that we may be heading down for a small correction and into these buy zones where...
