Seems like ETHBTC is currently in a tug of war between buyers and sellers and is forming a pennant. I don't like how the last 3 candlesticks look though. Selling pressure is visible but the bulls are buying. Ethereum is still not in overbought zone so another wave up is still possible.
Buy strategy:
Buy when Ethereum breaks out from that thick downtrend yellow line. Put a stop 2% lower from your buying position or the % depends on you.
1st support target:
Area between 0.085 to 0.086670
Buy strategy:
Buy when Ethereum breaks out from that thick downtrend yellow line. Put a stop 2% lower from your buying position or the % depends on you.
1st support target:
Area between 0.085 to 0.086670
Kommentera:
If it breaks below support (orange dotted line)
Kommentera:
then we can see the price go lower before another move up
Kommentera:
Candlesticks are looking good but volume isn't just there yet
Kommentera:
Now, we're going down. There was not enough buying demand to push the price up.
Kommentera:
That pin is a nice reversal indicator. Let's wait for ETH to break out from the top of this pennant.
Kommentera:
Failed breakout. Shouldnt go lower than .0884
Kommentera:
If this last candlestick stays green and its next candlestick closes higher, then ETHBTC is good
