FinanceFox

ETH/BTC Long Term Trend View

BITFINEX:ETHBTC   Ethereum / Bitcoin
Hey all!

Haven't posted in ages so I thought why not post a chart again so here we are with ETH/BTC since that one is the most intriguing in my opinion.
The recent move down has nearly gotten exponential and now we are at a point of a old support level that has been tested two times that triggered a heavy bull trend but the market in which ETH finds itself is still bearish .
Even if ETH/BTC goes up it might be more beneficial to be in USD till the market turns around. ( If BTC/USD goes down but ETH/BTC goes up you gain more if you are in USD. )

Regardless lets take a look at the trends and how the next one might form.
To keep it simple and quick I have put all references towards trend finding in the chart for bearish and bullish cases.
Sideways has not been mentioned since you can't easily and accurately spot that until it happens ( hence why whipsaws exist ).

In short it looks like ETH/BTC's down trend is out of it's current pace and has stopped following the bearish momentum trend ( green arc ) which is a "bullish" indication since it got less bearish .
The green support line is the next support to keep a eye on if it does go lower. It is far from bullish , the current trend switched momentum which means that a reversal is possible but there are no signs of it yet but it is a indication for a mean reversion scenario which can whipsaw longs that get late to the party.
Some of the early signs are pointed out in the chart for later reference.

TLDR:
  • Bearish Market Influence
  • Bearish Trend
  • Momentum Trend switched
  • Support Level Coming Up
  • Mean Reversion
  • USD vs BTC vs ETH = USD is beneficial
  • ATR is the earliest bullish trend sign
  • Mean Reversion could end up with whipsaws

I hope this helped you and you liked reading this, if you have thoughts about ETH/BTC/USD share in the comments!

As Always,
Happy Hunting!

All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock/cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. These are not facts but my personal views and opinions.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Comment:
Comment: Some more details
Comment: small typo: Bullish = Momentum Trend Up
Comment: again typo lol: Price > EMA 55 = bullish
Comment: market seems to turn around, is ETH next? 0.035 has been broken!
Comment: still going fine, ignoring the last trend so keep a eye open for the formation of a new one!
Comment:
Comment: ETH/BTC where trends rule the game. with the Yume in action, the EAG trend strategy and a update on my own analysis using those tools!

Overall the sideways trend turned bearish ( duh ) with this years final support closing in fast.
I agree! Bearish continuation signal supports this claim...
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I agree! Bearish continuation signal supports this claim...
Reply
tjpezlo tjpezlo
@tjpezlo, sorry wrong chart!
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tjpezlo tjpezlo
@tjpezlo, Wrong chart keeps appearing
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FinanceFox tjpezlo
@tjpezlo, NP, interesting chart! betting on the divergence?
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@tjpezlo, are you aware that for divergence to be divergence, the rsi and the price action of the candles needs to match?

This is not confirmed divergence
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tjpezlo frothmonster
@frothmonster, what do you mean?
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tjpezlo frothmonster
@frothmonster, If price action and rsi matches its called confluence not divergence, its called divergence when price action does the opposite of what the rsi does.
Reply
He sold..
Reply
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