Timing is everything - Swing Trade (1-2 weeks) Long ETH/BTC
1hr
rsi: 20.1 (oversold)
1hr stoch rsi: 17.4,20.85 (kinda oversold)
t-k cross bearish
1hr: candle pattern: possible support
4hr
rsi = 19.6152 (oversold)
stoch rsi = 4.4473, 7.8293 (oversold and has reset)
t-k cross = bearish
50-200 = bearish
cloud: price below cloud
candle pattern: possible support candle
1d:
rsi=31.36 (touching oversold but nominal)
stoch rsi = 20.57, 32.1776 (nominal, but touching oversold)
price is below 200 ema
fundamental events: Ethereum dev meeting 10.16.17
Metropolis release 10.17.17. Fundamental events suggest we will see a huge spike upward and will overrule technical.
btc/usd:
4h
rsi=76.9779 (overbought)
stoch rsi = 88.85,84.04 (overbought)
1d
rsi = 66 (nominal)
stoch rsi = 99.54,94.94 (overbought) can push a bit more, but its testing limits
The grand picture I see:
We need to see if eth/btc breaks .0605 and perhaps .0501.
With btc/usd approaching overbought and analyzing wave patterns, I see a singificant correction in btc/usd to possibly $4300 in the next few days.
This timing would coincide with a huge upward movement in eth/btc ratio.
My proprietary data says eth/btc should be bouncing very soon.
I think the safest bet here would be to buy ~.05 to .065 and hold eth/btc. Not margin it.
Target for TP will be .077 btc and .0937 btc
This is a risky trade, but I am publishing it because I think this is what will happen over the next week.
rsi: 20.1 (oversold)
1hr stoch rsi: 17.4,20.85 (kinda oversold)
t-k cross bearish
1hr: candle pattern: possible support
4hr
rsi = 19.6152 (oversold)
stoch rsi = 4.4473, 7.8293 (oversold and has reset)
t-k cross = bearish
50-200 = bearish
cloud: price below cloud
candle pattern: possible support candle
1d:
rsi=31.36 (touching oversold but nominal)
stoch rsi = 20.57, 32.1776 (nominal, but touching oversold)
price is below 200 ema
fundamental events: Ethereum dev meeting 10.16.17
Metropolis release 10.17.17. Fundamental events suggest we will see a huge spike upward and will overrule technical.
btc/usd:
4h
rsi=76.9779 (overbought)
stoch rsi = 88.85,84.04 (overbought)
1d
rsi = 66 (nominal)
stoch rsi = 99.54,94.94 (overbought) can push a bit more, but its testing limits
The grand picture I see:
We need to see if eth/btc breaks .0605 and perhaps .0501.
With btc/usd approaching overbought and analyzing wave patterns, I see a singificant correction in btc/usd to possibly $4300 in the next few days.
This timing would coincide with a huge upward movement in eth/btc ratio.
My proprietary data says eth/btc should be bouncing very soon.
I think the safest bet here would be to buy ~.05 to .065 and hold eth/btc. Not margin it.
Target for TP will be .077 btc and .0937 btc
This is a risky trade, but I am publishing it because I think this is what will happen over the next week.
Note
btc/usd is showing a double rejection candle on daily and still at higly overbought on stoch rsi. daily rsi is nominal but pinging overbought levels. I think we will see eth/btc rise pretty soon.Note
bbands on 4 hour are tightening. Metropolis phase 1 hit block 4.3 million hit about 5-6 hours ago. We will find out if it breaks upward or not soon. Oscillators show it has more likelihood of going up.
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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.