ETHBTC is one of my favorite charts. I made the prediction during 2021 that we would go from 0.030 BTC to 0.085 and we did (See related idea below). Now, we are at 0.066 BTC and nearing a significant support line. The line is not very well-defined, so I expect price to hover around it for a while. What I would like to see is dipping below the line while getting a higher low in RSI. Once price reverses from that low, then a trade is set up with the stop loss below the swing low and the target at 0.074 BTC.From there, I would like to see a retest of the same support line, but with a higher low in price and a higher low in RSI. That would be my confirmation for a move to 0.085 BTC.
So let's keep watching and see if the chart will indeed give us these signals.
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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.