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ETHUSD: Preparing a Bullish Cross rally that can peak at $11000.

Ethereum is bullish on the 1W timeframe (RSI = 66.069, MACD = 130.450, ADX = 40.617) as despite the nonstop rise since October, it is close to a 1W MA50-100 Bullish Cross. Last time we got this pattern was on August 17th 2020, with the price again on the 0.618 Fibonacci level, having already started the post COVID crash recovery that transcended into the Cycle's parabolic rally.

The 1W RSI structure among the two Cycles is identical and currently we are on a the third pullback of the Channel Up. The previous Cycle topped a little over the 1.5 Fibonacci level. A repeat of this will deliver us 11000.

Do you think the 1D MA50 and initiate a new bullish wave?

See how our prior idea has worked:

ETHUSD Oversold and at the bottom of the Channel Down. Bullish.

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