ETHBTC: can the reversal pattern be confirmed?
Updated
Very simply review of 2017 & what we can look forward to in 2018.
I personally believe BTCUSD is still in a downward trend w/ H&S to be confirmed soon (it's now making lower highs & lower lows). In this context, many coins are going down against USD. With POS coming for ETH, I think it's interesting to look at ETHBTC.
In my previous post wrt ETH, I mentioned the ETH should be more resistant against selling. Against BTC, there's potentially
1. an inverted H&S forming, but volume hasn't been strong enough & the neckline isn't broken.
2. a rising wedge, which may lead to further falls.
In this context, we should use caution. My personal take would be to sit this one out & maybe invest in some cheaper coins with more upside potentials.
I personally believe BTCUSD is still in a downward trend w/ H&S to be confirmed soon (it's now making lower highs & lower lows). In this context, many coins are going down against USD. With POS coming for ETH, I think it's interesting to look at ETHBTC.
In my previous post wrt ETH, I mentioned the ETH should be more resistant against selling. Against BTC, there's potentially
1. an inverted H&S forming, but volume hasn't been strong enough & the neckline isn't broken.
2. a rising wedge, which may lead to further falls.
In this context, we should use caution. My personal take would be to sit this one out & maybe invest in some cheaper coins with more upside potentials.
Comment
Here's my take on the price movements in general: jlteng.com/economy-business/cryptocurrency/price-movements-on-crypto-exchanges/Comment
Confirmed reversalComment
Very bullish now. We may just see 0.15 again soon (esp if they have the POS fork).
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