Hi lunarians,
I don't have much time but I really wanted to point out that I can see bearish signs on ETHBTC.
The impulsive move (5 waves up) since the start of this year looks about done. Besides, I can spot bearish divergence on the daily and hourly timeframes.
A reversal lower wouldn't surprise me at all if you consider both highlighted facts. How far this reversal will reach depends on various factors but let's assume that we can move to S2 and even S3 if we can experience the perfect storm. It all depends on how everything moves and I will update this idea regularly. So don't worry, I will keep you in touch.
Bullish scenario
I doubt that this will happen but, I can't exclude the possibility that we push through and move to R1. Doing so would definitely be long term bullish. However, It wouldn't change much to the fact that we are due for a retracement to at least S2.
Good luck!
I don't have much time but I really wanted to point out that I can see bearish signs on ETHBTC.
The impulsive move (5 waves up) since the start of this year looks about done. Besides, I can spot bearish divergence on the daily and hourly timeframes.
A reversal lower wouldn't surprise me at all if you consider both highlighted facts. How far this reversal will reach depends on various factors but let's assume that we can move to S2 and even S3 if we can experience the perfect storm. It all depends on how everything moves and I will update this idea regularly. So don't worry, I will keep you in touch.
Bullish scenario
I doubt that this will happen but, I can't exclude the possibility that we push through and move to R1. Doing so would definitely be long term bullish. However, It wouldn't change much to the fact that we are due for a retracement to at least S2.
Good luck!