Precisely 6 days ago, the Zweig Breadth Thrust indicator was at 0.39 (thus below 0.40), having reached 0.53 at this moment. In order for a solid rally to be sustained by sufficient momentum (to make it last at least 3 months), the ZBT indicator needs to surpass 0.615 in 10 days at most since its last reading below 0.40. Thus, if ZBT is not above 0.615 by the 2nd...
Monthly Time-Frame: --> Evening-Star --> target: around $97 --> 14-period Monthly RSI rejected by 20-period SMA --> most likely going down Position: SHORT
Monthly Time-Frame: --> Evening-Star --> target: around $72 --> 14-period Monthly RSI has steep downward slope and, like all the similar past situations, looks like a high probability of downward momentum Position: SHORT
In the case of the BTC/USDT and BTC/USD pairs, the Relative Strength Index (standard 14, on Daily time-frame) seems to have been a faithful indicator, looking back, with subsequent surges of 20% to 130%. Thus, it seems like BTC is ready for a new rally!
Based on candle action on the Monthly time-frame, ETH seems to be heading down to all-time Fib 0.236 level
0 fib is March 18 level. Inverse H&S, followed by false bull flag --> possible correction to approx 0.5 fib, then up to 0.786 fib.