ETH LONG - NEW ATH. OVERTAKES BTC MCAP IN MAY!
Looking at ETH 1D - it did a ridiculous run since my last post. Almost doubled if you look at BTC value. Fundamentals are looking really good:
1) Lots of people are bullish on ETH - not only ordinary people but also institutions, news stations and known people within crypto.
2) ICO season is active/approaching. Lots of the ERC-20 tokens are doing well and a majority of the top 100 coins are ERC20. More ICOs coming up as well which makes ETH very attractive.
3) Recent ETH run shows that there's a possibility that BTC gets taken down. ETH moves on his own lately which is a good sign. It is becoming less dependent of BTC and I wouldn't be surprised if people hedge in ETH now instead of BTC.
I myself am very bullish on ETH too and I'm seeing a continuation of the bull run for the following technical reasons:
1) Fairly obvious bullflag - looks like a possible 0.1 btc jump (0.105btc - 0.115btc) once it breaks.
2) Parabolic trend line looks intact. It even surpassed the parabolic trend for now. I think it's gonna slow down a bit between 0.618 and 0.786 before a run to the old ATH.
3) RSI still has some room to grow. Major RSI resistance needs to be broken in the flag breakout to confirm the break. We are hanging around the overbought area right now but it shows that there's strength in the trend/people still wanting to buy. I'm not too worried about that.
4) Volume dropped quite a bit - we need more volume in the breakout imo. Not very worrying I think as people tend to buy once the breakout happens.
5) ETH hit the bottom and bounced HARD. As HARD as my morning wood.
Exciting times for ETH holders. Track the flippening here: www.flippening.watch/ - 0.173 is the magic number - www.reddit.com/r/eth...agic_number_is_0173/
Based on all this I'm not surprised if ETH is gonna overtake BTC in 2018 - my prediction is in May but it could also be earlier. I'll make another chart on ETH in a few days or weeks to see how this eventually looks.
Expect resistance at the fibs and in between.
4H timeframe + bullflag
If you like my analysis consider following me on twitter: www.twitter.com/cryptoniter
1) Lots of people are bullish on ETH - not only ordinary people but also institutions, news stations and known people within crypto.
2) ICO season is active/approaching. Lots of the ERC-20 tokens are doing well and a majority of the top 100 coins are ERC20. More ICOs coming up as well which makes ETH very attractive.
3) Recent ETH run shows that there's a possibility that BTC gets taken down. ETH moves on his own lately which is a good sign. It is becoming less dependent of BTC and I wouldn't be surprised if people hedge in ETH now instead of BTC.
I myself am very bullish on ETH too and I'm seeing a continuation of the bull run for the following technical reasons:
1) Fairly obvious bullflag - looks like a possible 0.1 btc jump (0.105btc - 0.115btc) once it breaks.
2) Parabolic trend line looks intact. It even surpassed the parabolic trend for now. I think it's gonna slow down a bit between 0.618 and 0.786 before a run to the old ATH.
3) RSI still has some room to grow. Major RSI resistance needs to be broken in the flag breakout to confirm the break. We are hanging around the overbought area right now but it shows that there's strength in the trend/people still wanting to buy. I'm not too worried about that.
4) Volume dropped quite a bit - we need more volume in the breakout imo. Not very worrying I think as people tend to buy once the breakout happens.
5) ETH hit the bottom and bounced HARD. As HARD as my morning wood.
Exciting times for ETH holders. Track the flippening here: www.flippening.watch/ - 0.173 is the magic number - www.reddit.com/r/eth...agic_number_is_0173/
Based on all this I'm not surprised if ETH is gonna overtake BTC in 2018 - my prediction is in May but it could also be earlier. I'll make another chart on ETH in a few days or weeks to see how this eventually looks.
Expect resistance at the fibs and in between.
4H timeframe + bullflag
If you like my analysis consider following me on twitter: www.twitter.com/cryptoniter
Kommentar:
I meant to say 0.01 btc jump not 0.1* at technical 1)
Kommentar:
Broke out of the bullflag but volume is so so low. Think it might dip back again or continue but with little strength. Need more volume for a convincing breakout.
Kommentar:
Wops. Forgot chart -
Kommentar:
I did not notice this channel yet. Eth may not go as crazy as I had predicted - should be fine though. Slow and steady wins the game
Kommentar:
wew eth is making btc submissive
Kommentar:
broke out of the channel and some more volume confirming the breakout. RSI is pretty damn overbought so expect a dip.
