I am predicting a dip for ETH/BTC as 1hr RSI continue to show that it's moving towards the oversold area. I am predicting another this dip to finish the double bottom formation before a bullish outlook comes into view.
This is because of the falling wedge in the red rectangular border which results in a fail breakout. This just means it will have a further pull back hitting the bottom once again to gain momentum for the first 23.6 percent Fibonacci level.
At the point of writing, ETH has dropped to 0.0754 - It's following my analysis.
That being said, I have already stocked up 30 percent of ETH stash, and is awaiting for the upcoming bull run.
As much as ETH follows BTC trend, ETH/BTC uptrend is not over yet. We can potentially see a drop in BTC while an uptrend in ETH in the month of September as BTC continue to dip slightly more over the weeks.
Disclaimer: I am a beginner in the Crypto Trading world. And this analysis shall only be a reference. Any decision taken by you is not my responsibility!! Trade safe and responsibly!
This is because of the falling wedge in the red rectangular border which results in a fail breakout. This just means it will have a further pull back hitting the bottom once again to gain momentum for the first 23.6 percent Fibonacci level.
At the point of writing, ETH has dropped to 0.0754 - It's following my analysis.
That being said, I have already stocked up 30 percent of ETH stash, and is awaiting for the upcoming bull run.
As much as ETH follows BTC trend, ETH/BTC uptrend is not over yet. We can potentially see a drop in BTC while an uptrend in ETH in the month of September as BTC continue to dip slightly more over the weeks.
Disclaimer: I am a beginner in the Crypto Trading world. And this analysis shall only be a reference. Any decision taken by you is not my responsibility!! Trade safe and responsibly!
Comment:
Anyone can tell me how to remove the macd after publishing? I forgot to remove it when I published it. Anyway, as we can see, MACD indicators shows a downtrend coming through which further proves double bottom is very possible over here.