So it finally broke downWhen we talk about officially breaking down is when a weekly candle closes below, or above, a certain price level. This happened for ETH/BTC this week showing more weakness in the Altcoin market, and in crypto in general:
ETHBTC trade ideas
Bullish ETH/BTC chartA possible Gartley harmonic pattern forming on eth/btc chart indicating a strong bull run for ETH pairs against BITCOIN.
ETH BTC Updaterthe price is now in the most critical zone which will determine the immediate direction of the market! now the price has reached the second test of level 61.8 + in this zone we have support for the 100 moving average, and the trend one, which should give us good data for purchasing a large part of the market players, but if this level is not maintained, there is a chance of a correction to the level of 0.786 Fibonacci, which in turn will give a deeper correction to the market
ETHBTC 1WETHBTC ~ 1W 📈
#ETHBTC It's quite interesting to place small purchases here, make purchases gradually with a minimum target of 20%+
✳️ Ethereum Sideways For 1,000 Days...There is so much good information coming from this chart, that we will just ignore most of it and focus on the bottom line.
Ethereum vs Bitcoin | ETHBTC – LONG-TERM
➖ An amazing bullish wave took place here from 2019 through 2021.
➖ A major support level was established mid-June 2022.
➖ In January 2024, after 1.5 years or 574 days; this support level was tested and holds.
We have a candle marked, 8-Jan. '24. This is a reversal signal.
The current session, 12-Feb. '24, trades at a higher low compared to 8-Jan. and is now green and moving above EMA10.
We have a reversal signal and this week working as confirmation. It is still early though.
✔️ If the bulls follow through; if the blue trendline is broken or if ETHBTC moves weekly above 0.05680, we can expect higher prices long-term.
✔️ If there is a rejection and the June 2022 support breaks, we can expect the lower support level (0.04269) to be tested before any growth.
My interpretation of the chart mixed with current market conditions is saying that this pair is more likely to grow in the coming weeks and months rather then retrace.
👉 I am bullish on ETHBTC.
Namaste.
ETH/BTC - Weekly OutlookHere are the main things you need to watch in relation to the ETH/BTC pair.
Weekly symmetrical triangle (white trendlines).
Important level of support (yellow line) also 0.236 of current FIB trend.
Weekly RSI Bullish Divergence (same/lower low in pair vs higher highs in terms of strength).
If we break above our resistance level of our triangle then our expected target would be the 0.618 around the psychological 0.1 level. This would represent 1 ETH = 0.1 BTC and would also be a 2x from the current levels.
ETH/BTC - Bottom still HoldingSo far we see ETH's key level in relation to BTC is continuing to hold. relation created a double bottom with a strong bounce from oversold levels on our RSI.
This means ETH could start gaining strength against BTC.
Will make a post of the weekly chart so we can have levels to watch.
#ETH/BTC This is make or break for ETH, currently at support and this needs to hold. If we see a push here then we going to see the alts and ETH push really hard.
eth/btc on strong local supportthe bounce over the strong support is weaker, expect a move down which may represent good entry to go long eth over btc in the long term, this is a long term strategy
The End Of Ethereum. Not possible to hold.ETH/BTC pair has failed to hold line gain strength, this points to a giant loss of ETH in BTC terms and everything on Ethereum.
With Solana out to send stable coins cheaply, the SEC declaring ETH a security, ETH will likely never got a Spot ETF thus never catching up to BTC's Spot ETF Inflows.
This is where Staked Ethereum takes a loss they never thought possible.
ETHBTC Ratio Death Cross ApproachingKey Points:
• Death Cross: The ETHBTC ratio is nearing a death cross, where the 50-week average dips below the 200-week average, historically signaling a bearish trend for Ethereum relative to Bitcoin.
• Altcoin Impact: Since altcoins often follow Ethereum's movement, this could lead to a decline in their value compared to Bitcoin.
• Actionable Advice: The message urges you to consider divesting from altcoins and reevaluating your portfolio to minimize potential losses.
Additional Considerations:
• Market Timing: Predicting market movements is notoriously difficult. While death crosses can be a helpful indicator, they are not foolproof.
• Investment Strategy: This message advocates for a risk-averse approach. Consider your overall investment goals and risk tolerance before making any drastic changes.
• Do Your Research: Stay informed by following reliable crypto news sources and conducting your own research before making investment decisions.
Final Thoughts:
Carefully weigh the information and potential consequences against your investment strategy before taking action. Don't hesitate to consult with a financial advisor if needed.
This is the worst place to be a ETH bear against BTCThis is the worst place to be a ETH bear against BTC.
Literally we are IN the bottom. #eth #ethereum #crypto #altcoins
ETHBTC trading: BTC halving vs ETH ETF ETHBTC trading: BTC halving vs ETH ETF
Amidst the buzz surrounding Bitcoin's halving, Ethereum finds itself at a crucial crossroads, as the Securities and Exchange Commission (SEC) initiates a 21-day comment period for Ethereum ETF applications.
A veil of uncertainty remains over the immediate fate of Ethereum ETFs with the potential rejection or approval of VanEck’s application for the Spot Ethereum ETF due on May 23 deadline.
A rejection of the Ethereum ETFs might not just apply downward pressure on Ethereum but could affect the whole ecosystem including Bitcoin.
Reflecting on the previous Bitcoin halving event on May 11, 2020, which saw a 12% surge in price the following week. It's important to note that attributing these movements solely to the halving remains inconclusive. Various factors such as loose monetary policies and heightened retail investor participation also played influential roles back in 2022, making it challenging to directly link the halving to the market fluctuations.
Although a precise date remains unspecified, current estimations suggest the halving is likely to occur by late April, based on the ongoing pace of block validations.
📈Ethereum/BTC Analysis: Potential Shifts in DeFi Dominance🚨🔍Today, we're analyzing Ethereum/BTC in the weekly timeframe, crucial for understanding Ethereum's position relative to Bitcoin, especially amid the DeFi landscape where Ethereum plays a significant role.
💎Towards the end of 2021, ETH/BTC encountered resistance at 0.08511 and has since been undergoing correction. Upon plotting the Fibonacci retracement, we observed a bounce at the 0.382 level, signaling a possible continuation. However, failure to breach the previous high suggests dwindling buyer strength, potentially leading to downward pressure if sellers enter the market.
🔒Simultaneously, we notice a trendline resistance restraining the price, indicating that price has yet to gather enough momentum to break above it.
📊Examining volume since mid-2023, it appears to be in a range-bound state. However, short-term analysis shows decreasing red candle volume as we approach support at 0.05061. We need to observe if a break of this support correlates with a significant increase in volume.
💥RSI oscillator is currently hovering around support at 39.87. A candle closing below both price and RSI support levels could signal the beginning of a new downward trend.
❌Finally, it's essential to note that the current support level we are testing is critical for the vitality of this chart. If breached, Ethereum may underperform Bitcoin, especially during corrections. Therefore, it's unlikely that the Ethereum community, particularly heavy ETH holders, would allow this support to falter easily.
ETH is becoming worthlessETH's value is derived from the estimated present value of its future free cash flows,
ETH's flows are based on how busy the network will be in the future, transaction fees..
If fees are high DeFi gets build elsewhere on other chains.
If fees are low, ETH has no future free cash flows > This measn ETH can not succesfully scale for it to be a valuable token.
Follow the Ethereum vs. Bitcoin ETHBTC chartFollow the Ethereum vs. Bitcoin ETHBTC chart
A support line that has been ongoing since 2016 has been broken
The price must maintain the support of 0.04916 and not close the weekly below it
ETHBTC at a cycle bottomBINANCE:ETHBTC appears to be reaching a cycle bottom. Sentiment is quite sour (and for good reason). But has things really changed? Just seems like a typical decline while Monthly RSI as at the same level as 2019 with very similar timeframes. Total value locked in DeFi is increasing. Volume is picking up while DEFI dominance is steady, i call that bullish divergence.
