Looking at the BTC dominance and the ETH.BTC paring, one can assume soon ALTs will start their upward motion. However I don't think its ready yet.
Looking at this chart, we can see price bouncing off a key level support and its getting squeezed between the 2 MAs.(50 and 100) Looking at the indicators on the weekly, we can see cross over signals and hence upward pressure will grow over time. But for now, the squeeze means side wards action.
Note the inverse H and S potential formation. Based on this, we have the target either the height of the neck line to the head or using the inverted barr, target is the 0.618 fib level.
Please give me a like or tick for this post.
Regards, S.SAri.
Komentar
⋅
Ref. I. Chart
Komentar
⋅
still TA'ing this chart, Using the RSI with the other indicators, I might be able to pick up where the reversal should occur.
Let's see what we get now, daily close is important today.