About meBeen in Bitcoin & Crypto Mining, buying & Selling since 2010...
Ex-Pro DJ, Trader, Crypto Consultant, SEO & Membership Website Creator, Abundance Generator, with a passion for Cricket and Sovereign rights :)
Was recently shown this little gem of a ratio chart that will help gauge strength to certain markets such as the stocks and other financial instruments as the S&P, Dow Jones etc
So what does it all mean??
The ratio of two diametrically opposed asset classes often provides insightful clues about what investors are doing.
The XLY:XLP ratio is a perfect example....
ETH/USD Bitfinex opening with a down gap below the developing trend and 200 SMA on both Daily and 4H Timeframes.
Potentially more sideways price action today, coiling inside of the triangle for a breakout.
Levels to watch:
Fib 0.5% level: $272
BTCUSD possible death cross forming as traders take profit going into the new week.
Stochastics and MACD have shown bearish crosses forming also on the 4 hour timeframe and daily, adding to the momentum of a correction possibly being on the cards - in the range of a $7200 to a swing low of the $5800 range, a potential play ahead of the fork could bring high...