Decrypt0

ETH/BTC - Large rally will be pursued after this bounce

COINBASE:ETHBTC   Ethereum / Bitcoin
Hello fellow traders, friends and cryptotusiasts!
Thanks for stopping by my chart & idea.

If you like the content, please don't forget to press that like and subscribe button!

Looking at this from a long term perspective i see potential for large gains.
The chart itself looks quite bearish tho!

But, on the 1D we can see that we are starting to make a divergence on the RSI ,
This coupled with the trend we have seen lately I'm expecting a bit of a rally for ETH against BTC .

The chart is pretty self explainatory, if you zoom out you can see the relevant trendlines for the 1D that i have drawn out.

Have a nice day
Comment: Price is dipping below the trend.
I'm buying at these attractive levels.
Below we can see that it made a dip right below this trend before and I'm seeing a stronger likelyhood that we will bounce here. BTC will dip and as it's overextending now, then alts will have their time.

Comment: Double bottom, we have bullish engulfing
Trade closed: stop reached: 0,33 level proved to strong while BTC is rallying like this
The bottom trendline hasn't been confirmed yet (2 bounces doesn't mean anything relatively speaking, you could mark the second bounce literally anywhere) so it's still a potential trendline. However the RSI has been diverging for about 2 weeks now, so due to that, we're likely to see a bounce.

Hope this plays out, ETH has been disappointing me the last weeks, compared to bitcoin ...
Reply
Decrypt0 spyxo2x
@spyxo2x, Hey man, thanks for commenting :) Always appreciate it.
See here:

* We have had more than 2 bounces i count 3 before where we are now so I personally find this trend much relevant.
* We are on a historically previous strong resistance which makes this a strong support.
* We are diverging, in fact, a bounce here is pretty much bound to take us to the top of the next major resistance, this is what happened to bitcoin, i forcasted this exact similar move on BTCUSD. See below
Se here:
Reply
Decrypt0 Decrypt0
@spyxo2x
Loved this comment I made also

Longbitcoin
Dec 17, 2018
maybe a dead cat bounce and after 4400 or 4800 or 5500 or 5800 dump again under 3000 usd to the real bottom as wave 5 ;)


ethhunter
Dec 17, 2018
@Longbitcoin, I think dead cat was at 3.3-4.3k ! This will be more of a consolidation type of rally, i see range bound trading for a while after this, 2-3 months then it will pick up in speed. :)


It played out exactly that way lul :D
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out