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ETH/BTC technicals

ETH/BTC technicals

All Cryptocurrencies

by COINS NEWS 11 Views

Hey guys,

On the 1 month chart, ETH/BTC is a great buying opportunity for now.

On the 1 week chart, the eth btc RSI is bearish, However, volume has significantly dropped off, indicating that bearish pressure has eased up.

On 1 day chart the RSI for eth/btc has hit 30. This indicates that the coin is oversold. Further downside is possible but less likely. Volume has dropped to normal levels. This indicates bearish pressure is relenting. On the 1 day chart, an inflection occurred at our price levels on july 19, november 25th, and december 2. This indicates we may have a support line. The inflections were weak, so this is not a strong indication of a support line.

On the 4 hour chart, eth/btc has hit the support established on february 20th. volume is standard. This indicates a possible bounce.
3 hour chart - same no new insights.
2 hour chart - recent green spike. normal rsi.
1 hour chart - recent spike, with a bullish rsi.

30 minute chart - Recent bullish spike with pullback has occurred. The previous candle is a large green, the current candle is a small red, with long wicks.

15 minute chart - The price is oscillating around its recent spike. This may become a bullish flag. Who knows?

1 minute chart - https://www.youtube.com/watch?v=fCa_-bW8EQM :D

Overall impressions:
Cycling into Eth from btc is a lower risk move at the moment. Eth may have further downside, but for a day trader willing to take risk, this appears to be a potential local bottom. For a swing trader, staying in btc is risky to profits if your initial move were from eth. For a trader interested in longer trades... say one-two month duration, this is an ideal time to cycle to eth. For an investor, it is time to perform a portfolio rebalance to whatever your % are if you include both eth and btc in your portfolio.

Financial Disclosure: I personally hold both ETH and BTC and consider myself to be an investor. I performed a portfolio rebalance, selling 6% of my BTC stack for ETH. This portfolio rebalance brings me back to my original balance of 40% btc, 40% eth, and 20% alts.

submitted by /u/Serialnvestor
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