ETH potential bullish breakout trade. Wait for breakout..
While BTC remains indecisive with multiple wick downs by now on the lower timeframe below the symmetrical triangle (see previous published chart analysis of BTCUSD below), but with no follow through on the higher timeframe, the Ethereum chart is instead looking bullish, ranging in an ascending triangle with bullish ichicloud closing in from below. Need to wait for breakout and confirmation on retest on the higher timeframe as well though.
Also, while BTC had dumped below its 21 weekly EMA, ranging within a symmetrical triangle; ETH remains afloat above its 21 weekly EMA (top of the orange shaded region, with the area below which being the 34 weekly EMA).
ETH may potentially lead the crypto market (to recovery?) this time round again.
Also, while BTC had dumped below its 21 weekly EMA, ranging within a symmetrical triangle; ETH remains afloat above its 21 weekly EMA (top of the orange shaded region, with the area below which being the 34 weekly EMA).
ETH may potentially lead the crypto market (to recovery?) this time round again.
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BTC finally broken down below its sym triangle first before ETH manages to break up above its ascending triangle; pulling ETH down with it.