For most periods of time, Bitcoin has been the best coin to trade. Kraken offers leverage x5 on XBT, ETH, XRP and ETHXBT. For the vast majority weeks the coins move in tandem. For a couple of weeks in late '17, early '18 the BTC pairs moved in opposite directions. This post isn't going to be about trading ETHBTC, but rather, using ETHBTC to see if I should start using ETH to leverage long over BTC.
Most of the things I look for a long are either checked off, or about to be. We need to have whole candles open and close above the cloud. That's pending, but very exciting. We are above the 50 day moving average. I like to see the moving averages change colors to bullish (green on the 50, and taking a cue from the English, blue on the 200). The Stoch RSI ought to be bullishly crosses, but given that it is on ETH, that looks like a solid buy (because I look to long ETHUSD, not ETHBTC).
I like to use Heinkin Ashi candles to get a good sense of the trend, and seeing a green doji on the weekly, and a green flat bottom open on the same time-frame makes me very inclined to trade ETHUSD over BTC, esp. if we see a daily or weekly base line/conversion line cross (already present on the daily). If you take a look at normal candles ETHBTC is showing 3/4 of the last weeks green.
BTC.D has a death cross on the daily, we are well beneath the cloud, the conversion line is well beneath the base line.
In simple terms, the case is being set up that ETH may appreciate much faster than BTC over the next few weeks/months. Its not a sure thing, this rest in BTC.D may only be temporary, so keep your eyes open.
Most of the things I look for a long are either checked off, or about to be. We need to have whole candles open and close above the cloud. That's pending, but very exciting. We are above the 50 day moving average. I like to see the moving averages change colors to bullish (green on the 50, and taking a cue from the English, blue on the 200). The Stoch RSI ought to be bullishly crosses, but given that it is on ETH, that looks like a solid buy (because I look to long ETHUSD, not ETHBTC).
BTC.D has a death cross on the daily, we are well beneath the cloud, the conversion line is well beneath the base line.
In simple terms, the case is being set up that ETH may appreciate much faster than BTC over the next few weeks/months. Its not a sure thing, this rest in BTC.D may only be temporary, so keep your eyes open.
