ETHBTC : TRUE IDENTIFIER OF STRENGTH AND WEAKNESS RATIO
It should know that when the price of ETHBTC is on a downtrend, this generally signifies that Ethereum is weaker than Bitcoin(especially when Ethereum and Bitcoin are both Bearish). If ETHBTC is bullish, like the above chart, it signifies that Ethereum is stronger than that of Bitcoin.
How does this chart affect the price of Bitcoin and Ethereum?
It simply shows which of the coins will be a better market to trade.
As the price of ETHBTC rallies to the upside and the price of Cryptocurrency is generally bearish, Bitcoin would sink more than that of Ethereum simply because ETHBTC is bullish(Bitcoin is weaker than Ethereum).
From technical analysis, price reaches into a weekly FVG and then takes out the Sell-side Liquidity and then breaks market structure to the upside.
I want to see the price of this market to be at 0.08562 in coming weeks/months and for bitcoin to sink much further than that of Ethereum.
How does this chart affect the price of Bitcoin and Ethereum?
It simply shows which of the coins will be a better market to trade.
As the price of ETHBTC rallies to the upside and the price of Cryptocurrency is generally bearish, Bitcoin would sink more than that of Ethereum simply because ETHBTC is bullish(Bitcoin is weaker than Ethereum).
From technical analysis, price reaches into a weekly FVG and then takes out the Sell-side Liquidity and then breaks market structure to the upside.
I want to see the price of this market to be at 0.08562 in coming weeks/months and for bitcoin to sink much further than that of Ethereum.
Trade active:
Price have just hit the Bullish OB on the weekly timeframe. Price should see a violent reaction to the upside very soon.
I am still targeting my levels of 0.085632
I am still targeting my levels of 0.085632
Trade closed: stop reached