ETHBTC seems to be be faithfully following this upward channel for the past year or so, moving up and down within it. Personally, I am expecting ETH to appreciate against BTC more in the short term for the next few weeks before going down again.
Here we have the $ETHBTC chart
Evident price has moved above the bottom range, and we have had a successful retest (red candle) - only the 2nd ever successful break
We have also had one successful bounce from the level
This means we should move upwards on this chart, especially if we can pass the 200MA and flip it to dynamic support
When this chart increases in...
The graph of bitcoin to ethereum looks like a good setup, however i am very caution because of pump of bitcoin which could bleed the altcoin market substantially. I'm expecting a consolidation phase in bitcoin right now so this would give a-lot of time to grow for the price of ether.
- Enter at breakout (0.0345)
- First take profit at (0.06), Second take profit...