ETH (Prj.2019.P02.E02).Macro level analysis
Güncellendi
Thoughts:
BTC Dominance chart indicates ALTs have some room to keep going up.
ETH Daily chart has open and close candle above the 20 EMA
ETH Daily has closed above a key resistance level of 0.786 fib retracement
ETH fib. channel approaching edge of channel, meaning trend change possibility
Next resistance is 50 EMA, but target is 0.618 fib level which is a key resistance level.
ETH movements has confluence with BTC dominance chart.
RSI on the daily breaking formation\wedge and heading towards next level of 71% and possibly 81% as per red lines.
ETH/BTC Daily Chart: Open and close Daily candle above the 20 EMA. Positive sign.
BTC Dominance chart indicates ALTs have some room to keep going up.
ETH Daily chart has open and close candle above the 20 EMA
ETH Daily has closed above a key resistance level of 0.786 fib retracement
ETH fib. channel approaching edge of channel, meaning trend change possibility
Next resistance is 50 EMA, but target is 0.618 fib level which is a key resistance level.
ETH movements has confluence with BTC dominance chart.
RSI on the daily breaking formation\wedge and heading towards next level of 71% and possibly 81% as per red lines.
ETH/BTC Daily Chart: Open and close Daily candle above the 20 EMA. Positive sign.
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btc.dominance 
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Chart progressNot
ETH/BTC chart updateNot
Chart updateNot
Be aware there is a Bullish div. on BTC dominance, on the hrly chartNot
**** 1st Target reached **** 50 EMANot
Lets see if the ichimoku cloud has a say to the resistanceNot
Similarly ETH/BTC cloud. Here we have both 50 EMA and cloud at the same level.Not
1st Target reached both with price and RSI. Note Ichimoku cloud Not
further gains...close to target...short term, another bearish divergence in the 30 min. chart. Not
Closing below the daily 200 EMA ...next resistanceNot
With BTC close to imminent drop (temporarily) short term, and the fact that ETH is just short of the main target (already very close or acceptable its done so), I would say that it is more likely a good selling point for ETH (I have). We must work with the BTC reality. Once the drop has happened, it will be a great opportunity to jump back in for ETH for larger\bigger gains. Question is what level will it drop to? If you were awake, great, but if if not, what reserve price is good. That is a difficult one to say, but I'm working on it. What ever it is, it should equate to BTC support level, hence equaling a similar % drop as a good guide.BTC chart below has the key support levels, in red.
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BTC chart İşlem kapandı: hedefe ulaştı
Another successful call and ending this post as it was for this target, reached.RSI target reached as well.
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Weekly 21 EMA ...keep it on your radarNot
Current situationNot
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