ETHBTC is slightly overextended, and I think BTC.D is temporarily bottomed out. My personal strategy is to take profit between here at 0.067, and rebuy in the cyan boxes. This setup will be invalidated if it ETHBTC breaks substantially through 0.067 and holds this level for at least a week.
Trade active
Now!Note
Bearish divergences like this with decreasing volume have a high probability of retracing (in this case, down to the first cyan box). There is a much lower probability of pumping to break the divergence. Note
Very interesting developments. The market crashed very deeply in USD value, but BTC was decidedly *not* a safe haven during the dump. ETHBTC retested and bounced off of the 0.06 level, so currently this setup is currently invalidated. I'll still keep it on watch in case the 0.06 level breaks down.
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.
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.