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theCrypster
Jan 25, 2023 12:29 PM

ETHBTC - A Quick FakeOut Followed by 5-15% Decline Short

Ethereum / BitcoinKraken

Description

Hey guys - Just taking a quick look at ETHBTC and it would seem we've experienced a little fakeout above trend levels only to experience quite a sharp decline to the point of breaking below recent support.

There is still strong support located around 5% below current price so this may act as a natural level to reject the downward momentum - or ETH may well break below this level too on it's descent to an overall 15% loss.

Either way we've got a Short signal from Crypto Tipster v2 and if the last 2 years of signals are anything to go by, we trust this to provide some good results!

If you enjoyed or agree with this idea - drop us a comment, like & follow! :)

Comment

Looks like we're just about ready to get rejected from the descending top edge of this wedge 📉
Comments
LEKINOS
good call
theCrypster
@LEKINOS, Cheers buddy
ProjectSyndicate
superb overview and high quality charting
theCrypster
@ProjectSyndicate, Thanks, after the fakeout we'll see where this heads to next!
SwallowPremium
Your technical analysis is awesome! Thank you for sharing!!!
theCrypster
@SwallowPremium, Appreciate the kind words!
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