ETHBTC waiting for a big move

10 Ağu 2017

Seems like ETHBTC is currently in a tug of war between buyers and sellers and is forming a pennant. I don't like how the last 3 candlesticks look though. Selling pressure is visible but the bulls are buying. Ethereum is still not in overbought zone so another wave up is still possible.

Buy strategy:
Buy when Ethereum breaks out from that thick downtrend yellow line. Put a stop 2% lower from your buying position or the % depends on you.

1st support target:
Area between 0.085 to 0.086670

10 Ağu 2017

Not

If it breaks below support (orange dotted line)

10 Ağu 2017

Not

then we can see the price go lower before another move up

10 Ağu 2017

Not

Candlesticks are looking good but volume isn't just there yet

10 Ağu 2017

Not

Now, we're going down. There was not enough buying demand to push the price up.

10 Ağu 2017

Not

That pin is a nice reversal indicator. Let's wait for ETH to break out from the top of this pennant.

10 Ağu 2017

Not

Failed breakout. Shouldnt go lower than .0884

10 Ağu 2017

Not

If this last candlestick stays green and its next candlestick closes higher, then ETHBTC is good