Even after a considerable flush in Bitcoin prices, we see Ethereum holding the line very strongly. This was quite surprising and reassuring to ETH holders.
1. The long term trendline is still intact.
2. Nice wick at Bull market support band in weekly chart
3. Retest of the previous resistance of $3970 in weekly chart after breakout
4. Support at 200 day moving average
NIFTY has taken the perfect support at Bull market support band (21 week EMA and 20 week SMA )
We are still in a bull market, until we break it decisively.
Good time to buy and accumulate.
Should go sideways for some time and consolidate, then decide the direction.
Hi Folks,
I have used the bull market support band ( Huge fan of Bejamin cowen ) to trace a possible path for BTC which seems to be in an ascending triangle in daily timeframe.
BTC should test the support band once again and if it "holds the line", it will enter into a price discovery mode. If the on chain data and logarithmic regression pans out, it can easily...
