Updated

ETH/BTC Local work. Symmetric triangle.

Logarithm. Time frame 3 days.

Secondary trend (part). Symmetrical triangle. Pivot zone.
The price is now 0.069 satosh per ETH.

Linear chart.

Main trend Time frame 1 week.

Trade closed: target reached

Distribution zone triangle has been broken downwards. The price is currently in a downward channel. The decline is about -50%

Note

18 10 2024

A local wedge-shaped formation has formed in the descending channel in this ETH/BTC trading pair. There is potential for a breakthrough and price growth, to the resistance of this descending channel. Perhaps after consolidation.

This trading pair clearly shows how money flows from one high-cap asset to another. Shown on the chart. Look at the time and the Bitcoin to Dollar chart, at the time of the breakout of the symmetrical triangle of the distribution zone downwards (weakness of Ethereum relative to Bitcoin). Since then, Bitcoin has grown in price by almost +200%. While Ethereum relative to Bitcoin has weakened by as much as -50%.

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Related publications

ETH/BTC Работа. Потенциальный канал. Локальный восходящий тренд

by SpartaBTC

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