Crucial Moment for ETH/BTC

22 May 2023

- ETH/BTC is approaching the end of a symmetrical triangle formation on the daily chart, which began back in July 2022.
- The CM Williams Vix and Ultimate RSI indicators suggest that the bottom was established in late March 2023.
- Currently, ETH/BTC is testing a significant resistance line that has held strong since July 2017.

Additionally, considering the Bitcoin Dominance nearing a resistance point (see attached analysis below), it wouldn't surprise me if we witness a breakout for ETH/BTC, resulting in a decreasing Bitcoin dominance and Ethereum outperforming BTC at the moment.

I will conduct further analysis below using other timeframes

22 May 2023

Not

22 May 2023

Not

- Positive divergence is observed on the weekly chart.
- The 50-week moving average is approaching.
- The CM Slingshot indicator indicates a trend reversal.

22 May 2023

Not

CM Slingshot indicator shows similarities with March 2021.

Yellow = Aggressive entry
Blue = Conservative entry

22 May 2023

Not

2-week chart:

It's reaching a critical point of convergence...

As the price tightens within the chart pattern, a breakout becomes increasingly imminent.

7 Ara 2024

İşlem aktif

ETHUSD was just the testnet.
Change my mind.