ETHBTC showing bullish potential
During the selloff in crypto the last 24h, ETH have been one of the biggest bleeders.
All year, we have all been waiting for the triangle bounce, BUT something happened yesterday. ETHBTC broke the triangle trend most people have been watching for the last year almost without caring. With ETH crashing down I started to adjust the lines a little, and I found a new trendline which is a tiny bit different from the original we was watching. This line seems to be holding well, but it's not sitting there alone!
In Yellow on the chart we got the triangle with the bottom triangle trend I was talking about. In Purple we got the falling wedge (bullish), and in Cyan we have the strong horizontal trend we have been testing several times in the past. You see the thing they have in common? They intersect at the same spot, the spot ETHBTC bounced.
MACD is showing it's own triangle breakout in bullish direction, RSI haven't been this oversold in ages and the RSI bounced at the exact same spot as last time we went this low. See the horizontal line drawn on the RSI.
I'm hoping as people see all these trends, bullish momentum will return.
Feel free to share this with everyone you think could find this interesting. Votes and comments is much appreciated.
Take care and don't force trades.
All year, we have all been waiting for the triangle bounce, BUT something happened yesterday. ETHBTC broke the triangle trend most people have been watching for the last year almost without caring. With ETH crashing down I started to adjust the lines a little, and I found a new trendline which is a tiny bit different from the original we was watching. This line seems to be holding well, but it's not sitting there alone!
In Yellow on the chart we got the triangle with the bottom triangle trend I was talking about. In Purple we got the falling wedge (bullish), and in Cyan we have the strong horizontal trend we have been testing several times in the past. You see the thing they have in common? They intersect at the same spot, the spot ETHBTC bounced.
MACD is showing it's own triangle breakout in bullish direction, RSI haven't been this oversold in ages and the RSI bounced at the exact same spot as last time we went this low. See the horizontal line drawn on the RSI.
I'm hoping as people see all these trends, bullish momentum will return.
Feel free to share this with everyone you think could find this interesting. Votes and comments is much appreciated.
Take care and don't force trades.
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