Ethereum/Bitcoin: ETHBTC Stay away from this imploding dream
Ethereum/Bitcoin ETHBTC Toxic
Who is buying this? Why? It's still in a massive down-trend that
shows no sign of waning soon. It's a short every time it
touches the falling trend line from the high and will only ever
become a buy if and when that downtrend is broken.
As it stands now, it looks like it should fall further back to
0.0361 and then try to bounce (back to 0.0344) before coming
off again. The 0.0344-0.0334 zone represents critical support
for this dying dream. If it fails at any point Ethereum becomes
an aggressive short back to 0.0232 to start with, then after a
minor bounce, back to 0.0127.
If short, good for you. Stay that way back to 0.0344 then close
out again as above, ready to short aggressively again as
0.0334 is broken on downside for 0.0127 target.
Ethereum will remain weak whilst trapped under the downtrend.
Maybe one day itwill emerge the other side of the down-trend...
But until it does this thing is still toxic
Who is buying this? Why? It's still in a massive down-trend that
shows no sign of waning soon. It's a short every time it
touches the falling trend line from the high and will only ever
become a buy if and when that downtrend is broken.
As it stands now, it looks like it should fall further back to
0.0361 and then try to bounce (back to 0.0344) before coming
off again. The 0.0344-0.0334 zone represents critical support
for this dying dream. If it fails at any point Ethereum becomes
an aggressive short back to 0.0232 to start with, then after a
minor bounce, back to 0.0127.
If short, good for you. Stay that way back to 0.0344 then close
out again as above, ready to short aggressively again as
0.0334 is broken on downside for 0.0127 target.
Ethereum will remain weak whilst trapped under the downtrend.
Maybe one day itwill emerge the other side of the down-trend...
But until it does this thing is still toxic