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Potential ETHBTC Weekly Reversal Depends On Close

Long
Ethereum / Bitcoin (COINBASE:ETHBTC)  
ijiro Updated   
COINBASE:ETHBTC   Ethereum / Bitcoin
Trend Analysis Chart Patterns Technical Indicators ETH Ethereum (Cryptocurrency) BTC ETHBTC
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trendanalysis chartpattern indicator eth ethereum btc ethbtc
ETH's current weekly candle is hovering over the weekly top of November 23. Why this matter is that if this closes anywhere above the price point of 0.03167 BTC, the previous local high; This would be a break of trend since the highs in August. A higher high would be formed instead of a higher low, reversing the previous bear trend. To coincide, volume is rapidly increasing as it shows participation in this rally from the bottom. Stochs are crossing up while MACD may also cross back on up on the next candle open. RSI still in the neutral zone but has crossed over it's 21 EMA. If price does move towards the upside, expect resistance at 0.037 BTC as that was previous resistance for the run in August and is the 200 weekly EMA.
Comment:
snapshot
Something to also be aware of, the BTC dominance on the weekly will also close as a confirmed top if it closes the below the previous candle body. Confirming this close would further suggest the ETHBTC reversal and with the other alts too. Altseason maybe? (:
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