ETHBTC: Long opportunity may be looming.

(Monthly chart) ETHBTC may have significative upside, up to 0.08+.
It may break up or grab more some more liquidity around the 0.05 mark (lower bound of BB).

Either way, i see more upside than downside. Two possibile Long entry points: on confirmed resistance breakout and/or on weakness through scattered orders in green support area.

Keep in mind this is a MONTHLY chart, hence this is a long term analysis.

Chart image (Since Tradingview usually messes the chart):

Summary:

• Close to resistance
  
• Red TD count 8
  
• CMF approacing zero, rising.
  
• RSI rising.
  
• Stoch RSI oversold, rising.
  
• MACD flattening
  
• Lower BB flattening close to 0.05
  

Kommentera:

Watch it.

MACD still intelocutory, but look at CMF.
See what happens when it breaks-up zero level.

Kommentera:

Update (M): look at how RSI and Stoch RSI both turn up now ... it's just a matter of flipping MACD now.

If february closes like this it may pave the way for a pretty bullish trend till last quarter of 2024 at least. +50/100% upside possible.

At the moment the upper route seems likely.
Anyway, watch for a breakout, it should not be that far.

Kommentera:

Focusing on "Plan A" for the moment.
See the ascending triangle, whose natural target sits slightly above 0.07.

Watch it.