Note how ETH/USD has effectively the same top, making it an Ascending Triangle currently, vs. ETH/BTC a perfect even Equilibrium.
Also check correlation to grandpa Bitcoin, very similar situation right now. I'm really surprised how the bulls could manage to stay so strong reaching 4.000 psychological. Both ETH & BTC on the Daily are still overbought, but still the bulls are not backing off from the current range, which translates into the EQ we're seeing on the 4H.
=> Break is coming.
Also check correlation to grandpa Bitcoin, very similar situation right now. I'm really surprised how the bulls could manage to stay so strong reaching 4.000 psychological. Both ETH & BTC on the Daily are still overbought, but still the bulls are not backing off from the current range, which translates into the EQ we're seeing on the 4H.
=> Break is coming.
Yorum:
BREAK! Awesome follow-through by the bulls on BTC & ETH. We have now almost reached 4.200 previous resistance inside the weekly equilibrium on BTC, plus we're overbought on the Daily: I'd like to see a consolidation on the Daily/Weekly at the 4.2k at the latest, before the bulls try to break that. I don't see much potential to break that zone after running so much already.
Yorum:
I have taken full profit on the touch of 160 USD/Coinbase on my ETH position: it was previous resistance, + see update before to BTC.
