otis_bagshots

Time to go long ETH/BTC?

BINANCE:ETHBTC   Ethereum / Bitcoin
The ETH/BTC pair has been consolidating in a falling wedge through the month of Feburary and is well-positioned to break out to the upside.
The price is nearing the VPI point of control and 0.5 Fibonacci retracement level, so we can expect some volatility if a break out does occur.
Furthermore, the Stochastic oscillator is oversold (now trending up) and there is a bullish MACD divergence (as shown in yellow).
If ETH/BTC returns to its early Feburary high, this trade will yield a nice return with relatively low entry risk.
Good luck!