ETH/BTC Mother of bullish formations - towards ATH?
As you can see, there's a lot of confluence regarding a possible further upside swing on the ETH/BTC pair.
The cup and handle formation (blue) almost hit the measured target of 0.069 BTC, forming anoter bigger rounded bottom with a measured target of 0.114 BTC. Big falling wedge in play since May '17, with a measured target of 0.151 BTC. We hence might visit those highs again, possibly even breaking them due to Ether fundamentals being much stronger today rather than 4 years ago.
On-chain metrics reagrding exchange inflows/outflows and ETH locked in smart contracts are bullish AF. EIP making Ether a deflationary asset might contribute to making it more valuable based on its scarcity.
We should face strong resistance approaching 0.069 first and 0.085, which will most likely be an area of ranged consolidation after breaking the 0.069 resistance.
Good luck :)
The cup and handle formation (blue) almost hit the measured target of 0.069 BTC, forming anoter bigger rounded bottom with a measured target of 0.114 BTC. Big falling wedge in play since May '17, with a measured target of 0.151 BTC. We hence might visit those highs again, possibly even breaking them due to Ether fundamentals being much stronger today rather than 4 years ago.
On-chain metrics reagrding exchange inflows/outflows and ETH locked in smart contracts are bullish AF. EIP making Ether a deflationary asset might contribute to making it more valuable based on its scarcity.
We should face strong resistance approaching 0.069 first and 0.085, which will most likely be an area of ranged consolidation after breaking the 0.069 resistance.
Good luck :)
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