FrenchysCrypto

Tentative Double Bottom on ETHBTC--Possible Market Confidence

BINANCE:ETHBTC   Ethereum / Bitcoin
Tentative Double-Bottom on ETHBTC

If we can somehow hold this level and break the downwards sloping (and then the upwards sloping) trendline , as well as several levels of EMA resistance (that have held for several weeks), then this may indicate a short-term trend reversal. In other words--ETH may no longer depreciate faster in dumps (or appreciate slower in pumps).

This typically indicates that buyers have begun buying/selling ETH at a rate equal to that of Bitcoin , and this has shown (but not always) to represent increasing confidence in the market.
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