TA view
ETH successfully broke resistance in July and retested that line. The line is now holding perfectly as support. This line represents a huge symmetrical triangle, which is one of the most bullish patterns in TA, especially when followed by a confirmed retest.
The RSI has cooled down and is ready for the next move up, suggesting there is momentum room for a sustained rally.
Interestingly, the Advance/Decline Line is moving up while the ETH price is currently dropping, which is an extremely bullish divergence.
The MACD (Moving Average Convergence Divergence) is showing slight negativity, but it will "heal itself" as soon as the price starts moving up. It is possible that the move will be similar to 2021.
Macro Outlook
The End of the 4-Year cycle. The most important point is that the talk of a 4-year cycle is a lie; it does not exist. The current environment is different from 2021 and 2017. In 2017 and 2021, we had significant issues with the stock market, inflation, and rising interest rates; now, the opposite is true. Therefore, forget the 4-year cycle. Crypto will move like the stock market from now on, forever. People will finally accept this once Bitcoin (BTC) breaks its All-Time High (ATH) this year and definitively proves the cycle narrative is dead.
ETH successfully broke resistance in July and retested that line. The line is now holding perfectly as support. This line represents a huge symmetrical triangle, which is one of the most bullish patterns in TA, especially when followed by a confirmed retest.
The RSI has cooled down and is ready for the next move up, suggesting there is momentum room for a sustained rally.
Interestingly, the Advance/Decline Line is moving up while the ETH price is currently dropping, which is an extremely bullish divergence.
The MACD (Moving Average Convergence Divergence) is showing slight negativity, but it will "heal itself" as soon as the price starts moving up. It is possible that the move will be similar to 2021.
Macro Outlook
The End of the 4-Year cycle. The most important point is that the talk of a 4-year cycle is a lie; it does not exist. The current environment is different from 2021 and 2017. In 2017 and 2021, we had significant issues with the stock market, inflation, and rising interest rates; now, the opposite is true. Therefore, forget the 4-year cycle. Crypto will move like the stock market from now on, forever. People will finally accept this once Bitcoin (BTC) breaks its All-Time High (ATH) this year and definitively proves the cycle narrative is dead.
การซื้อขายยังคงดำเนินอยู่
Same chart, only on a daily basis. It's amazing how it respects the support line. This is tell tell story for ETH bullish scenario. Turbo bullish if you ask me.
That is for the TA. What about other news? Rate cuts, QE starting in 4 days, money printer go brrrr, China USA deal is on the table... Jesus, this will move faster than 2021.
Guys, you won't be able to catch it once it starts to move.
Consistency is the key of success....
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน
Consistency is the key of success....
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน