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HyptoCrypto234

ETH/BTC Bounce off accumulation zone.

Long
Ethereum / Bitcoin (POLONIEX:ETHBTC)  
HyptoCrypto234  
POLONIEX:ETHBTC   Ethereum / Bitcoin
Trend Analysis Chart Patterns Technical Indicators etcbtc Ethereum (Cryptocurrency) BTCUSD Bitcoin (Cryptocurrency) Cryptocurrency cryptotrader bitcoinforecast ethereumlong bitcoinlong
2
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trendanalysis chartpattern indicator etcbtc ethereum btcusd bitcoin cryptocurrency cryptotrader bitcoinforecast ethereumlong bitcoinlong
For the past 2 years the ETH/BTC pair has been slaughter. Even though this was during the most prominent bear market in the short history of cryptocurrencies, Ethereum's demise seamed to be disproportionate. ETH/BTC is now trading just below a longterm area of support (green zone). It also seems to be bouncing off its original accumulation zone from early 2016 (blue zone). These factors set the pair up as a prime candidate for bottom picking. Downside risk remains low given the original accumulation zone that is being tested, and a bounce back into the .024 - .026 (green) zone would yield 20%+ profit. Keep an eye on it!

Happy Trading!

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