TradersProfitClub
Short

BTC Broke Out While Ethereum ETH FAILS! DOWNSIDE SOON?

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Looking at Ethereum's technical analysis and as we look at it from a fundamental basis, last year when we saw that whole rally, was when Ethereum was being used for ICO's and raising funds. If you look at how much they've raised in the last 6 months it's about six million which is horrible compared to what we saw in 2017 where we saw billions being raised.

There's less utility for Ethereum and less use case at the moment which is ultimately a fundamental analysis . When we look at its technical analysis , you can see Bitcoin broke out of its ascending triangle , Ethereum hasn't just yet which is a little bit concerning due to the fact that if Bitcoin goes to the upside and Ethereum stays within these levels than Ethereum's Satoshi values will be dropping.

Expect us to consolidate within this ascending triangle , we may see an overall long-term bullish path, but at the end of the day, it will not outperform Bitcoin or some of these other altcoins right now potentially moving back on the top 10 list beyond Ripple just because it's not being utilized as these other altcoins such as Neo and Tron which are a lot more advanced in some ways, some are a lot faster and they solve a lot more issues as Ethereum is now an old platform which right now is finding resistance right around that $183 mark.

Looking at the Satoshi chart it's actually showing exactly what we are expecting, we were in this
ascending uptrend with this ascending support level . You can see how we just broke out of that
and we are now below the 4 hour EMA (in light blue) and now that's acting as a new resistance
and there is also large sell volume and the RSi broke down from its support at 40 to these
bearish levels.
✅JOIN:🏆 VIP DAILY Bitmex/Forex/Stock/Crypto Trade Signals - Get a 7 day trial for FREE: http://tprofitclub.com/free
Please take a look at our idea and let us know what you think!
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