Despite BTC's parabolic bull run, Ethereum has shown signs of life on both Bitcoin and Dollar pairs.
Recently, ETHBTC reversed at the 50% Fibonacci retracement level of the previous rally (which also overlaps with the Kijun Sen on this time frame).
This is a textbook pullback, and a bounce at this level normally suggests that the bull trend is likely to continue.
Two obstacles remain:
1) A convincing uptrend will be marked by a Kumo breakout, denoted by the green resistance line.
2) It is not implausible that ETH becomes suppressed again if BTCUSD starts 2018 in a similar fashion to how it ended 2017.
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Apologies for the hiatus - will be posting my ideas here more often.
Recently, ETHBTC reversed at the 50% Fibonacci retracement level of the previous rally (which also overlaps with the Kijun Sen on this time frame).
This is a textbook pullback, and a bounce at this level normally suggests that the bull trend is likely to continue.
Two obstacles remain:
1) A convincing uptrend will be marked by a Kumo breakout, denoted by the green resistance line.
2) It is not implausible that ETH becomes suppressed again if BTCUSD starts 2018 in a similar fashion to how it ended 2017.
---
Apologies for the hiatus - will be posting my ideas here more often.
Nota
Played out beautifully.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.