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ETHBTC trade ideas

[Investment] Sell ETH, buy BTCHello fellow traders, This investment idea might be for you if you are interested in selling your ETH for BTC. I've already sold some ETH @ 0.68. I am looking to sell another batch at the price level marked with a blue rectangle. Why? In my opinion, Proof of Stake is inferior as opposed to Proof of Work. I don't want anything to do with these Proof of Stake coins. I highly suggest researching this topic. So, in the end I will say farewell to all my ETH. Good luck and happy investing! Kind regards, n1d0
Short
by n1d0
ETHBTC updateOn the daily chart, the price strengthened after breaking through the ascending triangle below, and the price is currently in a rising wedge shape. In the three-day chart, after the price fell below the support of the head and shoulders trend line, it came to the support price (0.049105) and then rebounded to exceed the right shoulder (0.076912), and the head and shoulders failed. - There are two more resistances above which are marked with horizontal lines. - If ETHBTC effectively breaks through the upper resistance, it can be expected that ETH will be stronger than BTC in the future. -
by noah_chen
Critical support for ETHBTCPlease 1st of all smash the boost🚀 button to support my work if you like it! It's absolutely for free. ETHBTC dropped out of the yellow channel, broke the lime uptrendline and backtested the white downtrendline where price found strong support from Hulk.💪 After the bounce up price reclaimed the lime uptrendline and even got back inside the yellow channel and also broke the red downtrendline. I think the white confluence area of the trendlines needs to hold as support otherwise breaking down would be bearish in my view. See the original idea here: Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
by bizmark
4
Resistance to ChangeJuly was a reassuring month for crypto, and financial markets in general, stimulated by the Federal Reserve deciding a 0.75% rate hike was sufficient to slow inflation. They also stated the 2.25-2.50% federal fund rate is now neutral – no longer contributing to growth or contraction within the economy. This caused markets to rally on the expectation there may not be many further rate hikes and the possibility the worst may be behind us. Last year, July marked the bottom of the summer correction and the start of the rally that resulted in new all-time highs. This year, July saw a 16.6% monthly gain for bitcoin – the highest monthly gain since October 2021. This was outshone by ether’s monumental monthly gain of approximately 57% – the largest since January’s 2021’s 78% gain and the fifth best month over the past 5 years. The ETH/BTC chart conveys this spectacle well. Ether appreciated by 28% against BTC since the start of June – demonstrating the increased upside Ethereum has compared to its larger counterpart. However, last week it was Ethereum Classic (ETC), that saw the greatest gains. ETC saw a 94% surge within 4 days, with price still trading within 20% of the high. It is suspected this was caused by The Ethereum Merge that will result in Ethereum moving from proof-of-stake to proof-of-work (POW). This will render the Ethereum miners’ expensive equipment, used to solve the mathematical puzzles used in POW, obsolete and the miners’ $18 billion annual revenue disappearing. On the other hand, Ethereum Classic will remain proof-of-work, driving Ethereum miners to potentially put their equipment to use securing the Ethereum Classic chain. However, Ethereum Classic’s mining revenue amounts to only 3% of Ethereum’s. AntPool, one of the largest mining pools and an affiliate of Bitmain, a large mining equipment manufacturer, announced it would invest $10 million to develop and create new applications on the Ethereum Classic ecosystem in an attempt to increase the adoption of the blockchain, and the sales of their rigs. Bitmain also stated they will accept payments for their machinery in ETC. Will Ethereum’s fundamentalists win? On August 2nd, ETC total value locked (TVL) sat at $230,000 and transaction volume was $162 million compared to ETH’s $57 billion TVL and $3.8 billion transaction volume. The loyalists will require some serious network effects to capture any market share. Fidelity has stated that bitcoin will be the only 401(k) crypto product they will offer with a 20% allocation limit per portfolio. It could be argued that this is a huge step in the right direction with a behemoth asset manager, such as Fidelity, believing bitcoin is a suitable product for retirement plans. On the other hand, it also demonstrates the rest of the space is generally regarded as unproven and untrusted. This opinion was echoed by three anti-crypto American senators this week who deemed Fidelity’s move to include bitcoin as “immensely troubling”. Institutional hesitancy towards altcoins can be understood when considering institution’s risk aversion. The nature of the nascent crypto space where the “build fast and break things” approach, which can sometimes be taken advantage of, is also a hinderance. Incidents such as the $190 million exploit on popular token bridge Nomad that occurred this week is case in point. Solana also experienced issues this week with popular Solana wallets, Phantom, Slope and Trust Wallet, being exploited with their users’ funds being drained from over 8,000 wallets. After the collapse of CeFi and now these breaches on hot wallets, crypto asset security has become an even bigger priority for all crypto users. Ledger, the popular hardware wallet provider, has perfectly timed its rumoured discussions of seeking to raise an additional $100 million in funding. It is rumoured the round will be at a higher valuation than their previous $380 million raise at a $1.5 billion valuation last June – showcasing the growing demand for protecting crypto wealth even during this market downturn. Thankfully, resistance to change can provide profitable opportunities as the herd stays away from “risky” assets. Howard Marks details in his investment bible, “The Most Important Thing”, that the highest risk-adjusted returns are obtained when buying assets that are considered “not fully understood, fundamentally questionable on the surface, controversial, unseemly or scary, deemed inappropriate for “respectable” portfolios or recently the subject of disinvestment”. We wonder what asset class meets these criteria…
by Coinrule
Strong Bearish Signal on Ethereum against Bitcoin Hello friends, Today, I would like to bring to us ETHBTC chart. Believing that smart traders among us must know its implications when ever ETHBTC signal BULL or BEAR. Let me help you all, its signal always precede what ALT market will do. Very quick one not to waste our time, we have ETHBTC price break important Bullish structures on weekly with price crossed down the immediate trendline support. The good news here is that we have weak support around 0.05599 which should at least hold the price up for now to give us a crucial and major re-test on the trendline and bring about if not major it will be big relief for ALT market. This chart says the above scenario better. Moreover, having expected huge rejection on the re-test of this crucial trendline brings about the idea of looking for big support to count on as possible BUY Back and major Demand zone. The hunt for major Demand zone leads us to the idea of potential BULLISH Pennant, where price holding up within triangle. This level should bring major reversal to the market and open the room for bullish moments. The idea will be stop here and as well we highlighted some important resistance and support levels on the chart that worth looking at if market behave irrationally. Thanks for reading through this. Do not forget to drop your most valuable Likes and comment on the post.
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by weslad
4