ETH/BTC - ABC Correction - Look for trend reversal / Long /
Updated
Charted out an ABC correction in ETH/BTC from the Sep 21 high of .0858 , You can see the Fibonacci levels fit very well into this correction down to Nov 2 bottom of .0379 Fib level of .618 showed signifcant support until it broke October 8th. Fib .5 retracement lines up perfectly in this correction as well. Then finally we see the .236 support level lining up with a price of .050
We are currently above short term resistance level of .0410. If we can break above .043 and hold above for at least one session I would look to initiate a long position. I am going to be watching this one over the course of the next few days.
We are currently above short term resistance level of .0410. If we can break above .043 and hold above for at least one session I would look to initiate a long position. I am going to be watching this one over the course of the next few days.
Trade active
Go long ETH/BTC. we are above .43 and I see this continuing as BTC holders looking to consolidate gains into AltsTrade active
perhaps keep a stop at .4160-.4180 range. Its going to be hard to hold on to any trade today with volatility.
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