ETH has been bleeding steadily still to BTC. Bleeding on ups and downs and has reached a support level on its own chart and so also on the ETHBTC chart. Further bleeding could spell danger for ETH. The support on the ETHBTC chart is around 0.028 and the next notable support is around 0.025 – 10% lower. Support normally means support so do not write it off completely.
Decision Box 2 on the above ETH chart has been looming large for so long (causing a descending triangle) and now going into it could sway the action hidden inside it to the negative. ETH seems to be waiting for BTC to either get above 13 800 or below 13 000. A drop out below 13 000 and especially 12 700 ish on the related BTC chart would paint a head and shoulders pattern there and we would have a broken descending triangle on the above ETH chart. Not good once you look at how high sentiment on BTC still is, causing a negative swing.
Conclusion: It is hard to say many positive things about ETH now, but if the blood is running in the streets the woke sees opportunities. Very Important to me: Please leave a like if you appreciate the effort, please comment to develop this further and Please follow if you think this might lead somewhere you would like to know about.
Decision Box 2 on the above ETH chart has been looming large for so long (causing a descending triangle) and now going into it could sway the action hidden inside it to the negative. ETH seems to be waiting for BTC to either get above 13 800 or below 13 000. A drop out below 13 000 and especially 12 700 ish on the related BTC chart would paint a head and shoulders pattern there and we would have a broken descending triangle on the above ETH chart. Not good once you look at how high sentiment on BTC still is, causing a negative swing.
Conclusion: It is hard to say many positive things about ETH now, but if the blood is running in the streets the woke sees opportunities. Very Important to me: Please leave a like if you appreciate the effort, please comment to develop this further and Please follow if you think this might lead somewhere you would like to know about.
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Related BTC contribution
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Previous ETH contribution
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Next BTC contribution
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There has been an update for BTC but at this time things stay as per the chart above in Money Man's view. You could tweak Decision 2 though. Hopefully, there is a move soon to bring in some more data to update on. All the best.
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Just to add; 385 has become a bit of a pivot around which price moves - in the middle of the two Decision Boxes.
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