esjaees
Short

Wounded ETHEREUM ( ETHBTC ) battles on for a truce

BINANCE:ETHBTC   Ethereum / Bitcoin
Hello Friends,

I will keep this simple.

If you have seen my previous chart on Bitcoin ( BTC ) on daily frame, the path is clearly downward. (Ref:   BTC goes down it takes everything else down with it, a major reason why ETHUSD will likely fall apart from the weakness visible in its chart.

The ETHBTC chart however shows further signs of weakness in short term with a death cross of 20 MA and 50 MA and almighty MA 200 violated a day back.

The good part: Immediate support is available at .06864 at 0.786 retracement . If that fails, next major support is at previous bottom at 0.053625. A double bottom is a good sign for upward growth. A relief rally can be expected here. If that fails, next support is way down at .034541 which is 1.272 retracement.

Thank you.
Feedback welcome.
Trade closed: target reached

Comments

Third and final chart of the day on LTCBTC with short and medium term views.
Reply
The BTC chart I spoke about is here.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out