ETHBTC - Inside Bar / Pin Bar Fakeout (Not yet completed)
There is an inside bar / pin bar fakeout pattern forming on the daily charts in ETHBTC. Keep in mind that the daily candle is not yet closed so this pattern could possibly fall apart by then, but it is something work watching for now.
Inside bar / pin bar fakeouts can be very bullish continuations patterns when formed within a prevailing bull trend, as is the case with ETHBTC. If ETHBTC does break up from here it does not necessarily mean that ETH's price will rise, it simply means that ETH is outperforming BTC even in the case of the price of both dropping relative to the USD.
Inside bar / pin bar fakeouts can be very bullish continuations patterns when formed within a prevailing bull trend, as is the case with ETHBTC. If ETHBTC does break up from here it does not necessarily mean that ETH's price will rise, it simply means that ETH is outperforming BTC even in the case of the price of both dropping relative to the USD.
Dad of 5 • Dev • Candlestick Whisperer • Crypto class of 2019
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.