ETH has been falling behind in this recent uptrend and has had the strongest pullback so far from it. However, as BTC starts to correct, I am expecting the ETH pullback to slow down. We are at a key Fibonacci retracement area and are significantly oversold on the 4hr, with divergence in both RSI and CMF. Expect a bounce soon.
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Please see original ETHUSD idea where this originated from: 
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30 min chart suggests that the correction up might be coming sooner rather than later: Trade closed manually
Ok this looking bad. If we don't this level very soon, we're in for much lower numbers. Since I don't actually actively trade ETH against BTC, only against USD, I will most likely not have many more updates for this pair. Check my ETHUSD post linked below for updates. Note
Good lord this is brutal. However, we if this hour closes where it is AND we start trading above it, I would say the bounce is in. https://www.tradingview.com/x/iMlWakRa/ [\image]
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Still more brutal downturns. Here is the trend line you should be hoping breaks if you're a bull. If we fail at the 0.786 level, expect sub 0.5 ETHBTCNote
Here's a HIGHLY SPECULATIVE, yet interesting Risk Reward trade. Don't trade this pair myself, but interesting nonetheless, if you think the 0.718 fib level is going to hold Note
Well look at how this speculative trade is going. I would start moving the stop loss up to break even or in profit Note
Nice, you could have made 3% on this trade. Note
Looking like we broke up out of a bull flag https://www.tradingview.com/x/LogsXNhR/ [\image]
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.