ETC Bulls: above the neckline
Hey guys, the ETC bulls managed to stay above the neckline vs. their BTC bull brothers -this shows the clear relative strength vs. Bitcoin, as also seen in the ETC/BTC chart.
Just like I wrote yesterday, we had some room to retrace to the EMAs on the 4H, and we perfectly touch the 26 EMA , also testing the previous neckline, now turned into support.
So, ETC bulls are clearly waiting for the go signal - which is gonna come from none other than their BTC brothers, but who are right now still indecisive. If they don't get the go-signal, they're not going anywhere. For me personally this is a no-trade zone with too much choppy action & wicks. Therefore, no matter what you play here, never forget looking at grandpa BTC.
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;) (description in my status)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC
Just like I wrote yesterday, we had some room to retrace to the EMAs on the 4H, and we perfectly touch the 26 EMA , also testing the previous neckline, now turned into support.
So, ETC bulls are clearly waiting for the go signal - which is gonna come from none other than their BTC brothers, but who are right now still indecisive. If they don't get the go-signal, they're not going anywhere. For me personally this is a no-trade zone with too much choppy action & wicks. Therefore, no matter what you play here, never forget looking at grandpa BTC.
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;) (description in my status)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.