Hey guys, ETH is trying for a double bottom at the 420 area, I talked about this in today's episode of the Crypto Chart Analysis (description in my status). 4h EMAs 12 & 26 clearly act as resistance right now in ETH/USD, just like in the direct correlation of ETH/BTC => That means ETH is relatively weaker right now. So when playing ETH, always look at ETH/BTC, a move in BTC might be more leveraged with ETH, depending on the direct correlation.
This is still highly bearish terrain: In order for the bulls to change the trend, we definitely have to get above the 12 & 26 EMAs, on the Daily break the Lower Highs around 480 Dollars & essentially 550 -otherwise the bulls haven't proven anything to us.
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About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
This is still highly bearish terrain: In order for the bulls to change the trend, we definitely have to get above the 12 & 26 EMAs, on the Daily break the Lower Highs around 480 Dollars & essentially 550 -otherwise the bulls haven't proven anything to us.
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.