ETHBTC had a good run this December but has finally hit resistance (or ist just due to the BTC
dump yesterday? ;)), at least what looks like resistance. Looking at the Stoch RSI
we are way overbought and on the way down again. We do however have multiple support lines to catch us, meaning we don't necessarily need to go all the way back down to the trend support. The first support for ETHBTC is also the 0.382 fib line, so we might very well bounce from there. Either way I would wait with ETHBTC for a while to see where it leads in the following weeks.
As for ETHUSD
we're in a channel since late 2016. If ETHUSD
were to continue in this channel for the rest of 2018, we would hit at least 42K in USD value. That's crazy to think about, I highly doubt we'll go that high, but who knows? The trend line
has worked perfect as support for over a year, might as well hold another year right? Stoch RSI
shows it's overbought and is also starting to point downwards, MACD
also starting to look like it's about to come down. If ETHUSD
comes down to the trend we're looking at a 30% drop, look to buy there.
What are you thoughts?