#ETHBTC is trying to move above the daily 8MA. So it's getting interesting!
I hate it when I have to provide alternative counts (last study) but that's just a part of EW. Either way, we had a truncated 5 which concluded the BEAR Cycle or this is just a subwave from wave 4.
Question is: Was this an ending diagonal? or truncated 5?
The bullish divergence on numerous timeframes signaled that a cycle was complete so here we are, $ETH is turning bullish.
First target is obviously R1 followed by the zone between 0.0205 and 0.021 (Box Blue)
There is no reason to become overconfidently bullish when I look at the weekly level. We're still below the 5 and 8 MA. However, the week isn't over yet!
I will update the weekly when we close above those MA's
$ETH #ETHEREUM #ETHBTC #CRYPTO
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UPDATE:
Is this part of a bigger consolidation followed by a new low OR is this the start of a bull wave?
The next few days/hours will be important. Take note of the weekly chart.
Everything goes as planned. Careful when we hit 0.020x, there will be bearish divergence!
#ETHBTC #ETH #ETHEREUM #CRYPTO
Is this part of a bigger consolidation followed by a new low OR is this the start of a bull wave?
The next few days/hours will be important. Take note of the weekly chart.
Everything goes as planned. Careful when we hit 0.020x, there will be bearish divergence!
#ETHBTC #ETH #ETHEREUM #CRYPTO
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