Ethereum Setting up for blue sky break out.RIGHT now were are at resistance for the Eth dominance. We might pull back here hence resistance, and even consolidate for the rest of the week or 2-3 days. My guess is any pull backs will get bought back up on the higher timeframes
Here we have a blue sky break out about to begin on the Eth dominance chart.
If we get a clean breakout expect money to flow out of btc into Eth.
So bitcoin dominance would go sideways and or grind down some
Not sure about total market cap but were hovering above 1 billion slightly. My guess is total market cap consolidates before moving onward.
And then we get to see what happens with alt season.
ETH.D trade ideas
ETH.D Huge Fing Head and Shoulders! ETH Next Stop Moon!Aloha Crypto Millionaires!
ETH.D has printed a MASSIVE H&S pattern!
It appears the neckline is holding as resistance, for now. However, if/when we break through, I suspect ETH will commence its journey to $2K+!
I will be posting a chart for ETH shorter-term and longer-term Fibonacci price projections in the near future!
I think ETH could hit $20K by the end of this bull run!!!
Get 'em moon boots out cryptonaughts!
See you on the other side and follow us now for l33t TA on all the hottest cryptos!
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Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
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Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Bitcoin v Ethereum Market DominanceCharting both the bitcoin and ethereum dominance side by side to keep eyes on the movement from both. After the massive rally bitcoin has had, I am expecting the dominance to be topping out around these levels, while the eth.d is starting to show some life.
While eth.d still needs some more time to simmer and consolidate post-retaking trend, I am expecting big things once it is done retesting its previous range high near the 11.6% range. This does not mean ethereum is not going up, it just means that everything else goes up at a faster pace over the next few weeks, before it flows into Eth. This would mean ETH outpaces bitcoin once it breaks out, which would play very well with the price action we are starting to see.
If btc.d does drop here, i am expecting it to go down to the 64-66% range if not lower.
Overall crypto market cap chart, which explains how alts are going up, eth is going up but the eth dominance is going down:
Previous eth.d v. band fractal, which has proven to be incredibly accurate:
:https://www.tradingview.com/chart/ETH.D/s1P1hYsu-ETH-D-v-BAND-Fractal/
Previous ethereum short term idea (missed the wick down by ~$20):
Previous btc.d that proved to be incorrect:
Long story short, I am expecting alts to go from here, pacing with ethereum, until the money flows into ETH and it rips to a much higher overall cap dominance.
Looking for a DD on Eth.D to breakout of this WedgeWith the increased volume seen over defi summer, Eth.D increasing would certainly indicate a highly anticipated December alt season. Dipping under 12% for a week could prove negative, but for the time being, anywhere in this range is still accumulation zone.
ETH Dominance Gaining?As we analyze the Ethereum dominance chart we see an ascending channel of support holding the price up since the last move down. We also see a strong level of resistance indicated by the black horizontal line at the 13% level, a weekly close above this level "could" trigger an ETH dominance rally resulting in a dramatic price increase for Ethereum and an overall increase in the altcoin market.