Week starting 4th of August 2019 the altcoin market capitalization continues to drop more.
On the daily time frame, the price of ETHBTC has formed the 1 2 3 4 bearish count to the downside, which the height from 1 down to 2 is used to calculate the move to the downside when price breaks through 2 and closes below it.
The fibonacci extension ratio is used to calculate the move to the down side. Still in line with the previous analysis even on ETHBTC
. More move to the downside. Consider opening a short position right at 0.019976sats, with a possible down targets from 0.019342sats down to 0.017457sats.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
On the daily time frame, the price of ETHBTC has formed the 1 2 3 4 bearish count to the downside, which the height from 1 down to 2 is used to calculate the move to the downside when price breaks through 2 and closes below it.
The fibonacci extension ratio is used to calculate the move to the down side. Still in line with the previous analysis even on ETHBTC
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.