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ETHBTC Channel Down but how long before it takes off?The ETHBTC pair is trading within a Channel Down pattern on the 1W time-frame, with the 1W MA50 (blue trend-line) its key Resistance basically since the March 2023 sell-off. What's new though is that after this week's bearishness, it is approaching the 1W MA200 fast. This coincides with the ETH's previous Bear Cycle bottom. That could be the test level before the price rebounds and really takes off breaking finally above that Channel Down. The current trend is bearish but you wouldn't want to bet on it too long. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
5
Accumulate BTC with ETHHere is the game to play. ETHBTC is one of the less risky trades in the very risky crypto space. ETH and BTC are both long term winners (likely, not guaranteed). If I go wrong with this trade, I don't care, sooner or later the price will recover - no matter if I am in CRYPTOCAP:ETH or in $BTC. Right now ETH is trading for 0.0587 btc. It has been dumping down to the upper band of the green demand zone. It might bounce here, but I am not sure - because of the magnetic attraction of the red trend line. A dump down to the confluence of the lower demand zone area and the red trend line followed by a reversal and increased volume would make me mid term bullish on ETH. I would sell some BTC for ETH and buy BTC back when ETH is back in the 0.07 btc zone. NFA.
by NonComposMentis
Altseason on the Horizon? 🌕Exciting times are upon us in the world of cryptocurrencies! Ethereum (ETH) has recently broken out of a significant triangle pattern, and there's a compelling possibility that a similar pattern may soon emerge in the ETH/BTC pair. This development could signify the beginning of a mini altseason – an exciting prospect for crypto investors. 🎉 ETH's Triumph: Ethereum's breakout from a long-standing triangle pattern has sent ripples through the crypto market. It's a bullish move that indicates renewed interest in the second-largest cryptocurrency by market capitalization. 📈 The ETH/BTC Pair: Now, let's turn our attention to the ETH/BTC trading pair. Historically, altcoins tend to flourish when they outperform Bitcoin. A breakout of a similar triangle pattern in this pair could potentially signal a shift in market dynamics. 🔄 Implications for Altseason: Here's why this matters: if Ethereum, often seen as a bellwether for altcoins, starts to outperform Bitcoin, it could mark the beginning of a broader altseason. During an altseason, many alternative cryptocurrencies (altcoins) experience significant price surges, presenting intriguing opportunities for investors. 🚀 Trading Strategy: Keep an Eye on ETH/BTC: Watch for signs of a breakout in the ETH/BTC pair. Look for increased trading volume and clear confirmation of an upward trend. Diversify Your Portfolio: If altseason does materialize, consider diversifying your portfolio to include promising altcoins that align with your investment strategy. Stay Informed: Keep abreast of market news and developments that could impact cryptocurrency prices. Conclusion: While crypto markets are inherently volatile, technical patterns and market dynamics can provide valuable insights. Ethereum's breakout from the triangle pattern and the potential ETH/BTC breakout are exciting indicators. Remember, cryptocurrency investments carry risks, so always exercise caution and perform thorough research before making any decisions. Could this be the start of an altseason that leads to new opportunities and gains? Stay tuned, and let's see where the crypto journey takes us! 🌟 ❗️Get my 3 crypto trading indicators for FREE! Link below🔑
by AlexWhale
2
ETHBTC VISION ELLIOTT WAVEHi everyone! I want to share my vision on ETHBTC chart. It can be doubts how to mark a global chart from the of Ethereum existance, but it is no doubts how to mark it from the middle of 2022. Market made clear 5 impulse and I assume it as A wave Then market was completing a complex correction as a wave B ( I can mark it either a descending triangle or WXYXZ ). AND I THINK IT HAD BEEN COMPLETED IN RECENT WEEKS Now it is time for C wave that will consist its own 5 subwaves. Upmove of ETHBTC will mean the power of ETH against BTC and hopefully the power of all Altcoin market. Trade safe! Keep it simple and put your Risk Management first! Sincerely
Long
by PauloRicci
ETH/BTC - Flippening ... What Flippening ???My analysis of the ETHBTC chart suggests that there will be no Flippening, neither soon nor ever, an idea which I hope you will challenge with tough questions. After all, this venue exists to arouse the reverse-engineers and to provoke the thinkers to do what we do best. As always, I strive to render these ideas of mine so obviously that their explanation will require no words, and this forecast is no exception. Although my trading tactics - including the beauty of Tradingview and how it makes me look good - are based on identifying the opportunities within VOLUME, VOLATILITY and TREND EXHAUSTION, this is not a trade, per se, but the consummation of my understanding of the future of Ethereum as a "commodity". Furthermore, I am preparing the charts of XRP/ETH and AMP/ETH as part of the complete analysis. Now that I have enough followers for live-streaming eligibility (many thanks!), I intend to do a recurring weekly show on prospecting within the cryptosphere, where those charts and others will be showcased regularly. First, though, I have a few more ideas to upload as I update other key charts for the final Quarter of 2023. Until then, be liquid !!!
by TheLeadingIndicator
3
📈📊 #ChartPattern Alert! 📈📊 📈 Channel 📈A "channel," in the context of trading and technical analysis, is a chart pattern that forms when the prices of a financial asset move between two parallel lines, creating a kind of corridor or channel. There are two main types of channels: an ascending channel and a descending channel. Ascending Channel: This channel forms when prices have an overall upward trend, but this trend is contained within two upward-sloping parallel lines. The lower level is the support, where prices often find buyers, while the upper level is the resistance, where sellers may come into play. Traders often view the ascending channel as a sign of the continuation of the existing uptrend. Descending Channel: On the other hand, the descending channel forms when prices have a downward trend, but this trend is bounded by two downward-sloping parallel lines. The upper level is the resistance, where prices tend to retreat, while the lower level is the support, where minor bounces may occur. Traders typically interpret the descending channel as a sign of the continuation of the downtrend. Channel analysis is an important tool for traders as it can help identify entry and exit points, as well as set profit targets and stop-loss levels. However, it's crucial to note that channels are not foolproof, and prices can break beyond the channel lines, signaling a change in trend. In summary, a "channel" is a chart formation that depicts the direction and strength of a price trend in a financial asset. It's a useful tool for traders looking to make informed decisions about their market trades.
by RaffDN