ETH/BTC strong incentive to go long
ETH/BTC has just reached strong resistance level in 0.031 area, which is very strong incentive to go long to 0.035 level.
According to Mati Greenspan, a Senior Market Analyst at eToro explained that Bitcoin dominance is falling and that altseason is “upon us.” Bitcoin’s market dominance is falling in the past days as we can see in the chart.
In just three months, several altcoins were able to register impressive growth. The gains show that there was an interest to move away from Bitcoin to other altcoins.
And as Bitcoin traded sideways, participants in the market had confidence in the altcoin market.
Therefore, it is a great chance to jump into altcoins train and go along with ETH.
Risk/Reward ratio - 4.81%
Stop Loss - 0.031 or below 0.031 (depends on your tolerable risk level)
Take Profit - 0.035
Trade wisely and best of luck!
According to Mati Greenspan, a Senior Market Analyst at eToro explained that Bitcoin dominance is falling and that altseason is “upon us.” Bitcoin’s market dominance is falling in the past days as we can see in the chart.
In just three months, several altcoins were able to register impressive growth. The gains show that there was an interest to move away from Bitcoin to other altcoins.
And as Bitcoin traded sideways, participants in the market had confidence in the altcoin market.
Therefore, it is a great chance to jump into altcoins train and go along with ETH.
Risk/Reward ratio - 4.81%
Stop Loss - 0.031 or below 0.031 (depends on your tolerable risk level)
Take Profit - 0.035
Trade wisely and best of luck!
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