Hello there traders and investors, or anyone else taking a gander! 😄👋
🌞Today we will take a look at ETH and why I think we will soon be so bullish! (For this example we are using ETH/BTC pair..)
Let me start by saying that ETH is no joke. Many think it will surpass BTC eventually, this sounds kind of silly to a few, but it is anything but silly!🤪🚫
After a (0.382) fib retracement to approximately 💲0.053👀, I am looking to achieve almost full fib extension and go to our approximate target listed above.🆙🎯
Here are some reasons why:👇👇 👇
🔵Technically, we are looking very strong on this specific chart, we have seen a HUGE break up from a major trendline. The break started ~April 19th, about a week after Immutable X was dropped on ETH. ⏰📈💪
💨Here in this pair, you can see the dominance of ETH very clearly against BTC. ⏩⏩(in order to see the big candles that we see above, this means the price action of ETH during that period of time was substantially more bullish than that of BTC)
🧑 Vitalik has a lot of control over the price of ETH, which means he probably wants a nice correction so that going into the next bull market, we have strength to push to new highs.
🟡 Vitalik Buterin (founder of ETH) recently donated 1 BILLION dollars to charity, and to relieve India from the financial stress they are under due to COVID.(This could be seen as a good way to force ETH into an even healthier correction, which was much needed)👌📆📌
🧡April 8th of this year Immutable X protocol (easy 2-layer scaling) was released on the ETH blockchain, which is excellent for ETH and Immutable alike.✔🆗
💥Let's see what happens now! I am definitely bullish and looking to continue up as we form a giant parabola.🥳🧐
🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment, thank you!
Always have a stop loss ✋🛑💲 set
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, always welcome.