First, ETH due to Bitcoin pump and a few days of instability has resulted in a inverse head and shoulder pattern. This pattern would have allowed ETH to go up in price because of trend reversal. However, BCH(bitcoin cash) has to stop the uptrend momentum and market moves their money over and doubled BCH price. Therefore, the curve of ETH/BTC trend that I have drawn. Closing towards the end of the BCH bubble, people started to accumulate because news of metropolis starts to spread, causing a rectangle pattern. Awaiting ahead is just the "classic" buy the rumors sell the news situation. We should expect another market bleed nearing November due to bitcoin 2x fork.
Hi, thank you for taking your time to read a beginner analysis of the ETH/BTC pair. Please take my analysis as a pinch of salt, because like I said I am a beginner. I enjoy reading other people's opinion and comments, so do advice me or input and share your ideas with me! Agree/ comment if you like my analysis.
Caution!!!:
Any move made by you after reading this analysis is entirely up to you. I will not be held responsible if the market went against you and my analysis. As always remember to put a stop limit order to cut your losses!
Hi, thank you for taking your time to read a beginner analysis of the ETH/BTC pair. Please take my analysis as a pinch of salt, because like I said I am a beginner. I enjoy reading other people's opinion and comments, so do advice me or input and share your ideas with me! Agree/ comment if you like my analysis.
Caution!!!:
Any move made by you after reading this analysis is entirely up to you. I will not be held responsible if the market went against you and my analysis. As always remember to put a stop limit order to cut your losses!
Comment:
Did not expect the breakout to be so soon. However BTC/ETH is following my graph pattern, where it drops and consolidate before going up in price again.