Community post
ETH breakout case study - BTC will repeat
Here is the chart of Ethereum breakout from triangle on 4hr chart
https://steemitimages.com/DQmW4sEU6Mcn4ru8mPnBUtZAs2ASwNKJwqveH5hi3GYDBk6/image.png
Now look at BTC setup on the daily and how it can make a big move on breakout. It can breakout on either side due to huge run-up last year. But it is taking strong support on 50D moving average and hence better chance of following ETH footsteps and make a new ATH.
https://steemitimages.com/DQmR5J5VKSP98nztoV4szN2ZQxtBmpRxpWiyMgsPzka71z7/image.png
Replies (5)
good point of view
Thank you for the analysis bro, loving the signal!!
https://i.imgur.com/nWwJndu.png
Thanks. I think this consolidation of BTC around 15k is very good for long term trend.
I agree, this scares the enthusiasts and make the growing more natural and trustfull
We got a good bounce from lower end of triangle. I am really confident in this pattern now. Let us hope it breaks out upwards rather than downwards. At least we should see a bounce to 16k area in short term as per the pattern.