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ETHBTC trade ideas

ETH/BTC Trade Update 16-06-2023Trade Setup: ETH/BTC Pair - Weekly Time Frame In this trade setup, we are focusing on the ETH/BTC pair, analyzing the price movement on a weekly time frame. The price action is currently exhibiting a consolidation pattern known as a symmetrical triangle. A symmetrical triangle is formed when the price makes lower highs and higher lows, creating converging trendlines. At the present moment, the price of the ETH/BTC pair is situated near the bottom support of the symmetrical triangle. This support level represents a crucial area where the market participants will decide the future direction of the pair. It becomes imperative to closely monitor the price action to determine whether it breaks down from the support or finds support at the current level. Should the price break down below the bottom support, it would indicate a bearish signal, suggesting a potential decline in the ETH/BTC pair. Traders might consider implementing a short position or reducing exposure to the pair until further confirmation is observed. On the other hand, if the price finds support at the current level and begins to rebound, it would suggest a bullish scenario. This would indicate a potential upward move in the ETH/BTC pair. Traders might consider entering a long position or increasing exposure to the pair, expecting further price appreciation. It is essential to exercise caution and await confirmation before making any trading decisions. Traders should monitor the price action closely, looking for significant price movements and increased volume, which could provide additional insights into the direction of the breakout. As with any trading setup, it is crucial to implement proper risk management strategies, including setting stop-loss orders to protect against potential adverse price movements. Additionally, considering other technical indicators, such as momentum oscillators or volume analysis, can provide further confirmation or divergence signals to enhance the trading decision-making process. Remember that trading involves inherent risks, and it is recommended to conduct thorough research, consult with professional financial advisors, and stay updated with the latest market developments before making any trading decisions.
by Aman_Tiwari
The Ultimate Destruction of Ethereum NearsETH right now looks to have formed a Logscale Bearish Dragon on the Monthly and right now is showing Weakness at Resistance if it breaks down this Bearish Dragon we will see it come to the 0.618 Retrace below as a target one for the Bearish Dragon but this could also lead to a Log Scaled Bearish Bat Action Magnet Move down to the 0.886 Retrace. I believe Money will move out of ETH and into coins like Litecoin, RVN, HBAR, among a few others.
Short
by RizeSenpai
ETHBTC.4HHello dear friends, *Mars Signals Team wishes you high profits* This is a time frame analysis for ETHBTC.4H We are in the four hour time frame. As you can see, the price was able to break the resistance line and stabilize above it, and is currently retreating towards the support line. If it can consolidate above its first support line, we expect the price to rise to the first resistance area. But if it cannot stabilize above the support line, we expect further fall to the second zone. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Take care
by MarsSignals
ETHBTC: targeting the top of the Channel Down.ETHBTC is consolidating right now on neutral 1D technicals (RSI = 55.810, MACD = 0.001, ADX = 53.149) supported by the HL trendline. A bounce on the 1D MA50 would be ideal for a new buy, but if it breaks the trend turns bearish. Until it does, we are bullish, targeting the 0.9 Fibonacci (TP = 0.07200) as it happend on January 2023. But of those where the bullish waves inside a long term Channel Down. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
ETHBTC showing upside to come to 0.08 due to W and TriangleW Formation has formed on the ETH/BTC pair. There is also an Ascending Triangle, with higher lows and same highs. We are near the neckline where the price is quite likely to break up and out of. We have other signs like 7>21 MA Price>200 MA RSI>50 Target is for the ETH/BTC to head to 0.08 For those that don't know how it works... HOW ETH/BTC works ETHBTC is a trading pair similar to Forex pairs. With crypto, it represents the exchange rate between Ethereum (ETH) and Bitcoin (BTC). And as always with trading pairs, there is a primary and secondary coin. The primary (Ethereum) is how much 1 unit of ETH can be exchanged for a certain amount of Bitcoin. ETH/BTC 1 / X No. bitcoins. Right now, the current ETH/BTC exchange rate is 0.06. This means, 1 ETH is worth 0.06 BTC. Or conversely, we can see how much 1 BTC is worth in ETH. To do that we divide the two. BTC/ETH = 1/0.06 = 16.66 Ethereum per Bitcoin. ETHBTC works based on the principles of supply and demand in the cryptocurrency market. The exchange rate is determined by the ongoing buying and selling activity of traders on the exchange platform. When there is more demand for Ethereum relative to Bitcoin, the ETHBTC price tends to rise. Conversely, if there is more demand for Bitcoin relative to Ethereum, the ETHBTC price tends to fall. Right now we can expect the ETH/BTC to go up, which means Ethereum will mostly likely strengthen in the near future compared to Bitcoin. Hence I expect the price to go to ETH / BTC = 1: 0.08.
Long
by Timonrosso
BTCETH Fractal What I have noted are three distinct peaks with curved resistance lines and two inclined support lines. The period in-between was the sideways market and the big fractals are the bull and bear markets. Both saw distinct peaks in ETH against BTC but the first one showed a more volatile ETH break the lower trendline into a deviation before continuing trend whereas the second fractal saw a stronger ETH that held the line through the fractal pattern. I see the first fractal also lost the critical support at almost exactly the same satoshi value as the complete fractal. First fractal saw ETH trapped in the curved resistance and fell a massive 52% before finally breaking the resistance. BUT The second fractal has seen ETH hold the trendline and break out from the resistance to the upside with a 10% increase already. I hope you find this useful, but I think all of the new ETH wallets and holders is beginning to tell a story.
by TradeRangerAU
1
Sigificant double breakout in ETH/BTC. Will likely outperform.Narrative is overly bearish ETH due to position in market cycle. ETH is a different asset compared to 2018 however, with substantially better supply dynamics than Bitcoin, increasing average returns for ETH over BTC. The charts reflect this. A signicant double breakout on the charts recently suggests ETH is starting to breakout of its downtrend against BTC which could signal more significant outperformance to come, particularly when the crypto market is less bearish. Long ETH/BTC.
Long
by UnknownUnicorn10152290