Almost as with grandpa BTC, we can see currently the potential tilted neckline with ETH at the $230 psychological resistance. But ETH is definitely weaker than grandpa BTC: We haven't clearly bounced off from the support at $190: This gives us the potential to further consolidate inside the range, should the break not occur.
In the direct correlation to Bitcoin, we have broken the crucial 0.025 BTC bottom, which gives potential to further downside. We're currently inside an EQ again:
=> As long as ETH loses in the direct correlation to BTC, it makes no sense to play ETH bullish, only the downside is attractive in this case.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
In the direct correlation to Bitcoin, we have broken the crucial 0.025 BTC bottom, which gives potential to further downside. We're currently inside an EQ again:
=> As long as ETH loses in the direct correlation to BTC, it makes no sense to play ETH bullish, only the downside is attractive in this case.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
