BTC & ETH uptrend may have been confirmed

in #cryptocurrency • 6 years ago (edited)

A double bottom formation may be in progress in BTC and ETH charts.

BTC:

ETH:

Both 2h period charts seem to show a double bottom in the last 3 days and finally 50h MA trends up hard, and crosses the 200h MA upwards. This is consistent with a transition from bear to bull market.

The RSI in 1h and 2h are around 70 for ETH, ETH might trend harder. It's around 60-63 for BTC right now.

I think that the trend reversal should take about a week to be visible in the daily chart, although a confirmation will take still more.

I expect 9k in 5-10 days.

#bitcoin #ethereum #trading #analysis
6 years ago in #cryptocurrency by
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