ETHBTC Trading Idea

POLONIEX:ETHBTC   Ethereum / Bitcoin
Let's look at the daily chart of ETHBTC and try to understand possible price movements. Based on Moving Averages we can see that this market is in the up trend and this correction movement gives us good trading opportunity. For opening long trades we have to wait when market reverses in the upward direction. The best reversal levels are Moving Averages with periods 50 and 100 and the support levels. Now we can see that price dropped to 0.100000 support level and MA50. We can expect price reversal from this area. If RSI reverses and moves upward, we'll have price reversal confirmation from this support zone . MACD histogram also must do the same, because now it confirms down movement. As for DMI indicator, it shows that we don't have strong movement and it allows us open long trades. These signals from indicators will confirm the market reversal and our buy opportunity. We'll be able to open long trades above the high of the bullish candle confirming price reversal. If market breaks 0.100000 level, the next reversal zone can be between 0.080000 level and MA100. These levels also will be good for buying.
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it's too early to say that the prices can dip as far as upro 0.08BTC. I see the support levels around 0.092.
If that's broken--then probably we can think of the 80's.
ETC !! How do you look at it?
@skyaroma, With your eyess
May I ask What the Colored lines are in DMI? One is + Oneis - What is the third
I have a very important question.... u think ETH would be the safe heaven before the BTC BIP148?
Like poeple would move from BTC to ETH, LTC and other coins or even USDT till the BIP148 is over then they can re-buy BTC again ?

i really wonder if ETH will spike till that is over or not?
+2 Reply
ChrisCorbeil HaithamKhalifa
@HaithamKhalifa, lol ur buying with btc
HaithamKhalifa ChrisCorbeil
@ChrisCorbeil, yes true and btc's dominance been going up lately :)
saschaberer HaithamKhalifa
@HaithamKhalifa, since eth is reasonsbly consistent with a ratio of around 0.1 - 0.11 btc, i wonder if it doens't also go down with btc and everyone flocks to other alt or fiat.
Eth is now just above 240 so it sounds like a great price but what if it drops along with btc?
May I ask why do you use RSI 8 instead of RSI 14?

Thank you.
Is below 0.1 a shorting opportunity?
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