Ethereum Vs Bitcoin —Bare Minimum, 222.22% Profits Bullish Wave

19 Nis

Ethereum's current move vs Bitcoin —ETHBTC— is over-extended:

1) The drop has gone way beyond the 0.786 Fib. retracement level, almost reaching 1 (which means a 100% correction).

2) Trading volume is non-existent. Which means that this move is not supported by real people.

3) The RSI is oversold. Which means that the current action is very likely reaching its end.

4) Ethereum (ETHBTC) is trading at, and activated, the lowest prices since late 2019. The main support zone for this pair.

The current bearish move is over-extended and is showing many weaknesses, a trend reversal can happen any day. ETHBTC has been dropping since December 2021. A market can only take so much.

The minimum target for the reversal is the baseline level. Just as ETHBTC went down to test its 2019 support but with a higher low, as soon as this support zone is reached the reverse becomes true. Now ETHBTC needs to test its late 2023 early 2024 resistance zone. This level is likely to break and price reach higher but this is the bare minimum.

» The bare minimum is a nice 222.22% profits potential bullish wave.

Namaste.

1 Haz

İşlem aktif

Bullish breakout confirmed. Altcoins Season confirmed.