ETHBTC: Clarity demands patience (after short-term correction)
I have shared recently my views on BTC & ETH (see below). Let's now examine the ETHBTC pair:
It appears that we're at a resistance at the moment (one that started at the top from Jan 2018). With weak RSI, the chances that ETHBTC breaks this resistance is not extremely high. If this resistance is broken, there's another resistance from the top of Wave 1 from early 2016 not far ahead.
At this point, I think it's possible that a retest of the support around 0.026 can take place. If we then confirm the support, it will be more likely for ETHBTC to break the resistance. IF this test fails, the absolute bottom for ETH would be 0.0075.
In the beginning of a bullish cycle, it is my personal opinion that BTC will be the best bet. Even if ETHBTC does continue to fall, I think it's still possible for ETHUSD to go up, just not as quickly. Towards the middle of the bullish cycle, ETHUSD will more likely catch up to BTCUSD.
BTC chart:
ETH chart:
It appears that we're at a resistance at the moment (one that started at the top from Jan 2018). With weak RSI, the chances that ETHBTC breaks this resistance is not extremely high. If this resistance is broken, there's another resistance from the top of Wave 1 from early 2016 not far ahead.
At this point, I think it's possible that a retest of the support around 0.026 can take place. If we then confirm the support, it will be more likely for ETHBTC to break the resistance. IF this test fails, the absolute bottom for ETH would be 0.0075.
In the beginning of a bullish cycle, it is my personal opinion that BTC will be the best bet. Even if ETHBTC does continue to fall, I think it's still possible for ETHUSD to go up, just not as quickly. Towards the middle of the bullish cycle, ETHUSD will more likely catch up to BTCUSD.
BTC chart:
ETH chart:
Kommentar:
what's interesting about this site is that many rush to post "LONG" charts.
I wonder what would happen if the pair becomes BTCETH?
I wonder what would happen if the pair becomes BTCETH?
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