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ETHBTC trade ideas

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.
by VIAQUANT
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.
Short
by bryandowningqln
1
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.
by BlackBull_Markets
📈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.
Long
by itsparham96