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
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
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If it breaks below support (orange dotted line)
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then we can see the price go lower before another move up
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Candlesticks are looking good but volume isn't just there yet
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Now, we're going down. There was not enough buying demand to push the price up.
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That pin is a nice reversal indicator. Let's wait for ETH to break out from the top of this pennant.
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Failed breakout. Shouldnt go lower than .0884
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If this last candlestick stays green and its next candlestick closes higher, then ETHBTC is good
