ETH/BTC has been going up in a stellar move breaking 0.063 without even slowing down!
The question that follows this move up is; Is this a bull run/uptrend and how much longer will it last?
We are all hoping for the crypto markets to go for a bull run like we had last year but we aren't there yet.
TA wise it's just a retrace during a downtrend but if we break this and make the same move as we did during the last run ( green circle )
we are in for a treat!
Going to keep it short but sweet:
-> Hitting resistance
-> sky high with a divergence opportunity
-> Upcoming red cloud
What to watch for:
Other factors to consider:
-> BTC mining profitability
-> BTC sitting at resistance / BTC dominance lowering
-> ETH mining profitability compared to BTC
My main goal here is to translate the chart and make it more simple over what there is to see and what to look out for.
Hope this was information helps you in the long run!
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Sitting at the resistance of 84 and are in an area of indecision ( RSI confirmation ) with 2 bullish trends ( split by the white line in the green channel ). Price is moving around an old swing high. No clear signs here except for the bullish trend that is weakening.
all the info is in the chart, we aren't bearish yet but the door has been opened.