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ETH in pennant pattern ready to outperform BTC in short term
以太坊/比特币
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ETH in pennant pattern ready to outperform BTC in short term
由Philippe_0x提供
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2021年12月25日
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Short term price action expectation:
ETH is consolidating in pennant pattern ever since it breakout from very long triangle formation.
Pennant pattern is usually continuation pattern (bullish in this case).
Currently ETH ranging around W resistance level.
Zoom out or switch to W timeframe to look at long term picture.
As next target/resistance zone for ETH/BTC pair I expect 0.105-0.110 range (it is a little bit longer term target).
For short term, I'm targeting 0.095 (level from previous bull market - D chart), as mid point to the big resistance I mentioned up.
Notice also oversold Stoch RSI with bullish crossover in making and RSI back to 50 from which in past some bullish action were started.
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