$ETH weakens against $BTC for a whilein #ethbtc chart candle wick patterns, stoch RSI and Macd shows weakness. Downtrend against #btc may continue, but not against #usd or fiat. Not financial advice.
BTCETH trade ideas
ETHBTC RSI has broken resistance on MonthlyIt's a clean break of the trendline in the RSI.
On the monthly and it's almost over so that candle will be final.
Bullish on Ethereum vs Bitcoin.
when to change btc to eth?According to the btc ceiling and floor and the eth/btc chart, it is possible to recognize the approximate time of the alt season.
Ethereum's Potential Surge: Bouncing Back from a 7-Year Support The recent weeks have been pivotal for Ethereum, the world's second-largest cryptocurrency. While its price faced some fluctuations, a crucial technical development suggests a potential for significant growth in the near future. Analysts are closely watching a technical indicator that hints at a bullish outlook for Ethereum in the coming months.
The Power of the 7-Year Support Line
The indicator in question is the ETH/BTC ratio, a metric that compares the performance of Ethereum relative to Bitcoin. This ratio recently bounced off a significant support trend line that has been in place for a staggering seven years. This trend line essentially represents a historical price barrier below which the ETH/BTC ratio hasn't fallen for an extended period.
Technical analysts view such bounces from long-term support lines as potentially bullish signals. The argument is that when prices find support at these historical levels, it often precedes a period of price appreciation. In simpler terms, the fact that the ETH/BTC ratio held above this key support line suggests a potential reversal of the recent downtrend and a possible upswing for Ethereum relative to Bitcoin.
Dissecting the Bullish Signal
There's more to the story than just the bounce itself. The specific candlestick pattern formed at the support line adds further weight to the bullish interpretation. This pattern, known as a "hammer," is characterized by a long lower wick and a relatively small body, indicating selling pressure that was ultimately overcome by buying pressure. In the context of the ETH/BTC ratio, this hammer suggests that while there were attempts to push the ratio lower, bulls stepped in and prevented a significant decline.
What Could This Mean for Ethereum Prices?
While the bounce from the support line and the hammer candlestick pattern are positive signs, it's important to manage expectations. Analysts aren't suggesting an immediate surge to $4,900, the number mentioned in some headlines.
However, the technical signals do hint at a potential for a sustained increase in the value of Ethereum relative to Bitcoin. This could translate to a notable rise in the USD price of Ethereum as well.
Factors to Consider Beyond Technicals
While technical analysis plays a role, it's not the sole factor influencing cryptocurrency prices. Here are some additional considerations:
• Overall market sentiment: A bullish trend in the broader cryptocurrency market would undoubtedly benefit Ethereum.
• Developments on the Ethereum network: Upcoming upgrades or positive news surrounding the Ethereum blockchain technology could further fuel its growth.
• Regulatory landscape: Regulatory clarity and adoption of Ethereum-based applications could attract more users and investors.
A Cautious Approach with a Hint of Optimism
The bounce from the 7-year support line offers a glimmer of optimism for Ethereum's future. However, investors should exercise caution and conduct their own research before making any investment decisions. The cryptocurrency market remains volatile, and unforeseen events can always impact prices.
Conclusion: A Potential Turning Point for Ethereum
The technical indicators surrounding the ETH/BTC ratio suggest a potential turning point for Ethereum. While the exact price trajectory remains uncertain, the bounce from the long-term support line and the bullish candlestick formation paint a hopeful picture for Ethereum's relative strength in the coming months. By staying informed about broader market trends, technological advancements, and regulatory developments, investors can make informed decisions about their Ethereum holdings.
EVERY Possible Scenario for ETH in 2024As we can all observe, ETH is doing pretty bad against BTC. And I mean neck-deep-up-sh*t-creek-with-its-mouth-wide-open kinda bad LOL.
People are starting to worry and get flashbacks of the December 2020 dip of ETH against BTC.
The current situation is the price retesting a historic golden FIBONACCI level (61.8%) that's about 3 years old. This level is crucial because it's formed by the last cycle's bull-run surge.
Let's explore the possible and impossible, or rather unlikely, scenarios.
FIRST SCENARIO: Ethereum ETFs get approved.
This obviously is what we all wish for, not only ETH investors and fans, but everyone who cares about the Alt-coins market. I expect a huge surge from our golden FIBO level if this scenario occurs.
SECOND SCENARIO: Ethereum ETFs get disapproved.
In this case, it would be reasonable for the price to decline and retest the bottom of an even more historic symmetrical triangle structure that's as old as ETH.
The price should bounce from there as Ethereum recovers from the bad news and retry surpassing the golden FIBO level.
THIRD SCENARIO: Ethereum is doomed.
This is a very unlikely scenario , but let's humor it anyway. What if ETH fails to retest the bottom of the symmetrical triangle structure that's been containing its price action since millennia?
Well, I don't expect this to happen unless ETH fails to recover from the bad news and turns out to be a huge SCAM coin. The biggest scam coin in the history of crypto.
Sorry if this was too intrusive and scary. I just think it's reasonable to always consider the worst as we consider the best outcome possible.
The GREAT news is all of the speculations are pointing to the approval of the Ethereum ETFs , I personally expect the approval next week, so I'm ruling out anything but the BEST possible scenario for ETH this cycle!
Note: This was an exploration of a potential scenario based on the current context and state of the market, not financial advice.
🚨ALTSeason Alert🚨: Why It's Imminent ??The cryptocurrency market is buzzing with anticipation as many analysts and traders believe an altseason is on the horizon. Altseasons are periods in the market cycle when altcoins (alternative cryptocurrencies) outperform Bitcoin (BTC), the leading digital asset. Several factors suggest that an altseason could be imminent, and this article will explore these indicators and highlight promising altcoins to watch.
Altseason Index Signaling a Shift:
The Altseason Index, a metric that tracks the relative performance of altcoins against Bitcoin, currently indicates a Bitcoin dominance-led market. However, the index is approaching a critical inflection point where it could break below its trendline, signaling a potential altseason.
Bitcoin Dominance Poised for a Breakout:
Bitcoin's dominance, which represents its share of the total cryptocurrency market capitalization, has been trading within an ascending wedge pattern. This pattern suggests a potential breakout, with a downward move indicating a shift of power towards altcoins. A decline in dominance below 40% is often considered a hallmark of an altseason.
Bitcoin dominance chart showing an ascending wedge pattern
Ethereum (ETH) Gaining Strength:
The ETH/BTC price ratio, which measures the relative performance of Ethereum (ETH) against Bitcoin, has been on an upward trend. This trend suggests that ETH is gaining strength relative to BTC, potentially signaling a shift in market sentiment towards altcoins.
ETH/BTC price ratio chart showing an uptrend
WIF (WazirX India Token) Poised for a Breakout:
WIF, a cryptocurrency native to the WazirX exchange platform, has been forming a massive ascending triangle pattern on the daily timeframe. This pattern suggests a potential breakout towards $10, making WIF a promising altcoin to watch for the upcoming altseason.
WIF/USDT chart showing an ascending triangle pattern
Additional Factors Supporting an Altseason:
Increased Institutional Interest in Altcoins: Institutional investors are showing growing interest in altcoins, as evidenced by rising investment inflows and the launch of altcoin-focused products.
Strong Fundamentals of Many Altcoins: Numerous altcoins have strong underlying fundamentals, innovative use cases, and active developer communities, making them attractive investment opportunities.
Market Sentiment Favoring Riskier Assets: The overall market sentiment is shifting towards riskier assets, which could benefit altcoins as investors seek higher potential returns.
Conclusion:
While the exact timing of an altseason cannot be predicted with certainty, the confluence of several indicators suggests that it is imminent. Altcoins like WIF, with strong technical patterns and solid fundamentals, are poised to make significant gains during this altseason. However, it is crucial to exercise caution and conduct thorough research before investing in any cryptocurrency.
Huge monthly breakout for ETHBTC. Get ready!ETHBTC holding key support within long term range and pennant building since 2017-2024
Monthly bullish engulfing candle closing in few days. Heikin Ashi monthly doji is also closing in May. The RSI is also starting to break the downward trend.
This looks like an incredible setup. Are you positioned?
ETHBTC pair on daily time frameIn my opinion, the real alt-season will not happen until the downtrend line is broken
ETHBTC Analysis: Bullish Momentum and Potential Corrections#personaloutlook #marketupdate
#cryptoweeklyupdate on 27/05/2024
#sekilascrypto #ETHBTC
As I mentioned last week, we have successfully broken through the yellow area at 0.4883212 - 0.05036641, indicating that ETH is starting to strengthen against BTC. So, what's next for ETHBTC?
Currently, it remains quite strong and bullish, but as we can see, the Stoch RSI is already entering the overbought area, which could potentially lead to a correction. On the daily timeframe, there is still a chance to reclaim up to 0.06047006 and then drop back as a correction to the current area around 0.05677990. However, overall, there is a big possibility it will move to the green zone in the area of 0.06554863 - 0.06813071.
ETHBTC - Maintaining Bull Trend Line (non log) ETHBTC is still acting bullishly on timeframes such as the weekly, shown by this trend line
This leads me to believe that ETHBTC will continue this bullish trend.
As a result ETH's value compared to bitcoin will increase. This would be an ideal scenario in a large altcoin bull market.
$ETH chart's bearish RSI+MACD Divergence#eth #ethereum has formed the divergence in lower time frame. Sudden dump and pumps are expected till the ETF approval decision and later. Not financial advice.
$ETHBTC chart's falling channel#ethereum against #bitcoin chart, #ETHBTC has reached top of the channel before ETF approval. Volatility will be insane.
ETH AT RESISTANCE VS. BTCInteresting spot for Ethereum Vs. Bitcoin on such a big day.
Right at long term descending resistance.
By the way, there was bullish divergence coming from oversold RSI at the bottom, as often happens.
alt season is starting just be patient !hey !
market is becoming bloody boring for most of the traders and without reaching ETH/BTC pair to 0.42 area beginning of alt season is less likely, i excpect a little more correction of price to 0.42 that is weekly support and after hugging it price will starting to rise
ETH AND ALTS will make a stronger bull run that we never had before and new ATH for ETH and most of ALTS is expected !
ETH/BTC Breakout .06-.08 retest nextAs you can see ETH/BTC broke the recent downtrend just as many people had given up hope that it would, just in time for the first ETF decision this week. DTCC has shown that the tickers are listed, does this mean the ETF will be approved? All we're missing is a tweet from the SEC saying the ETF has not been approved, I guess. ;)
ETHBTC SHORT?Hi, it doesn't look too good for ETH ETF in shorterm - shorting would make sense, right?
Ethereum killed the Bitcoin star This could possibly be my best trade of 2024.
Activation above 0.061
Chart is self explanatory.
Pattern failure on ETHBTC!!! ***WARNING***Are we going to get a halvening before the Halvening.
Ethereum priced in Bitcoin is giving us the headsup that things are not right in #crypto world
After being so strong for so long
we have broken down through our stop loss for a Bullish #HVF
and now appear to be spilling towards legacy ratio's
if #Ethereum does go on a tumble
expect your #altcoins to lose twice as much value
Ethereum About to Make a MONSTER MOVE??Hey everybody,
Hope all is well.
Today I take a look at the ETH/BTC chart as there is something significant on it. Price has just reached a YEARLY FVG. Yes, you heard that right. For ICT traders, you know what i'm talking about. This is significant in that large moves can occur. So let's dive in as I do my analysis, clean and simple stuff.
Basically, ETH/USD may be a better choice than BTC/USD in terms of returns. As usual, do not over-leverage or get greedy. This is the yearly chart that I analyzed so patience is paramount.
- R2F
ETH/BTCThere is still hope that long term ETH will outperform BTC, as long as it does not breach the level set by wave 1....
Interesting times up ahead.
ETH/BTC Analysis (W) - May 21 2024ETHBTC chart is currently in a support zone.
we want it to 1- cross above the yellow trendline and 2- make a good weekly close above 0.06117 in order to have a nice ALTSEASON.
basically sharp rise in ETH/BTC chart means ETH is outperforming BTC and it's a clear sign of Altseason.
ETHBTC Wyckoff Accumulation SetupMajor Wyckoff horizontals identified. If the inverse head and shoulders finishes painting this is an easy long.
