GreaterNinja
Long

Timing is everything - Swing Trade (1-2 weeks) Long ETH/BTC

POLONIEX:ETHBTC   Ethereum / Bitcoin
1hr
rsi: 20.1 (oversold)
1hr stoch rsi: 17.4,20.85 (kinda oversold)
t-k cross bearish
1hr: candle pattern: possible support

4hr
rsi = 19.6152 (oversold)
stoch rsi = 4.4473, 7.8293 (oversold and has reset)
t-k cross = bearish
50-200 = bearish
cloud: price below cloud
candle pattern: possible support candle

1d:
rsi=31.36 (touching oversold but nominal)
stoch rsi = 20.57, 32.1776 (nominal, but touching oversold)
price is below 200 ema

fundamental events: Ethereum dev meeting 10.16.17
Metropolis release 10.17.17. Fundamental events suggest we will see a huge spike upward and will overrule technical.

btc/usd:
4h
rsi=76.9779 (overbought)
stoch rsi = 88.85,84.04 (overbought)
1d
rsi = 66 (nominal)
stoch rsi = 99.54,94.94 (overbought) can push a bit more, but its testing limits

The grand picture I see:
We need to see if eth/btc breaks .0605 and perhaps .0501.
With btc/usd approaching overbought and analyzing wave patterns, I see a singificant correction in btc/usd to possibly $4300 in the next few days.
This timing would coincide with a huge upward movement in eth/btc ratio.
My proprietary data says eth/btc should be bouncing very soon.

I think the safest bet here would be to buy ~.05 to .065 and hold eth/btc . Not margin it.
Target for TP will be .077 btc and .0937 btc

This is a risky trade, but I am publishing it because I think this is what will happen over the next week.
Kommentar: btc/usd is showing a double rejection candle on daily and still at higly overbought on stoch rsi. daily rsi is nominal but pinging overbought levels. I think we will see eth/btc rise pretty soon.
Kommentar: bbands on 4 hour are tightening. Metropolis phase 1 hit block 4.3 million hit about 5-6 hours ago. We will find out if it breaks upward or not soon. Oscillators show it has more likelihood of going up.
You see a correction of btc/usd to $4300 in the next few days...have you factored in the upcoming BTC fork? Isn't this a reason for BTC to push past a correction (or delay it) and push into a higher price over the next couple of weeks? Once done then the correction comes...

BTC fundamental events: Bitcoin Gold - another fork in the road / another set of bonus coins. Mid Nov?
Antworten
@DaWatz, This push upward to me says it will try and test 5,000. The technicals say quite a bit overbought on btc. Ethereum Metropolis fork on 10.17.17 says that BTC/USD will likely correct as well. What I see is a bulltrap/correction in btc. IMO, this is a fakeout beartrap for eth/btc to prepare for perhaps wave 5 of huge upward push. Lastly, btc forks are scheduled after Metropolis, so I think a correction is likely.
Antworten
DaWatz GreaterNinja
@GreaterNinja, thanks for the informative reply... Trying to forecast the movements of one coin, and then another, and then how they interact can sure get confusing at times...and then how they both sit in relation to fiat. Good points about the fork after Metropolis.

all best,
D
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