ETH.BTC (Y20.P4.E8).Looking to go long

BITFINEX:ETHBTC   Ethereum / Bitcoin
Hi All,

I'm keeping this short and to the point, as its about planning, having a strategy.

a) Patience; Weekly chart, shows downward pressure still there, so we might drop some more moving forward.
b) The chart is the strategy to find the level on when to go from BTC to ETH;
c) This post does not factor in your strategy on Coins, eg. LINK, ADA, ....defi, whatever you chose, this is only about ETH over BTC ;
d) Chart seems to be a wedge formation, with point C and E with a bullish divergence or double bottom scenario. Hence looking for a W formation as part of the breakout;
Since we have no confirmation, we need another element and hence the red band is my key resistance. If ETH breaks this, then it fits into the Wedge trading approach as well
as having that fib level as well. We have many things making sense with this stucture.
Hence I would wait for it to break it before moving a large junk onto ETH. Obviously you\me have to see what else is going on with the other coins.

These comments and the following charts should give you a good perspective that this approach is sound.

Note: If this is the beginning of the Bull market for this year and next, we must look for waves or impulses where flipping makes sense.
BTC dominance chart is a key tool as well for this. Below is the current BTC dom chart.

All the best,

1 Day Chart

Overview of ETH BTC pairing

weekly chart indicators, 3 of them, all showing downward pressure still there, so we might drop some more moving forward.

BTC dominance: Since this is based on calculation, we need to give it a day for it to correct itself, especially this wick. I have seen it before where it disappears based on the calculations

Comment: small moves\opportunities, inverted ETH\BTC chart
Comment: MACRO OVERVIEW. How the above fits into the price acion


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