ETHBTC Explosive Breakout!

31. Aug. 2021

ALTseason could be upon us, ethereum just had a beautiful breakout against BTC out of this descending wedge! We are currently facing some resistance at the 0.2 FIB but we did have a nice wick pretty well above here! We notice on the MACD we are in and out of a bullish cross and we gotta look for separation in the MA's once the bull cross happens, we need to see that momentum pick up, also the histogram looks great we are coming to an end with the red cycle and we are very close to breaking into that bullish territory, we want to see increasing green bars each day! Now checking out the bollinger bands, we are looking very good our current candle has touched the top band which is always very bullish and if we see this continue im sure we are going to melt up pretty hard, we do have some light resistance halfway through the 0.2 FIB and im sure if we take a ride up the bollinger bands it'll take us right there! Not financial advice just my opinion! ps. very important that we get a daily close above the 0.2 FIB, then we will be looking mega bullish!