Ethereum vs Bitcoin
After three years of downtrend ETH/BTC ratio has arrived at long-term support at approximately 0.035.
Bitcoin is in the process of breaking out from the consolidation and Ethereum is starting to show some signs of bullishness. The current weekly candle (not closed yet) looks like a bullish hammer so far. Weekly RSI is oversold and Stochastic RSI is below 20 for a long time since the first week of August.
Actually, look at these indicators on higher timeframes: 2W, 3W, 1M, 2M! Stochastic RSI is below 20 and potentially ready for a cross up.
It is very early because the candle is not closed yet. We want to see it closing in a bullish way: bullish hammer, dragonfly doji etc. We then should wait for another week for confirmation. This will suggest that the downtrend is probably over and it is going to be more profitable to hold Ethereum instead of Bitcoin because Ethereum will outperform Bitcoin in the coming months.
PROTIP: smaller altcoins will outperform Ethereum!
Bitcoin is in the process of breaking out from the consolidation and Ethereum is starting to show some signs of bullishness. The current weekly candle (not closed yet) looks like a bullish hammer so far. Weekly RSI is oversold and Stochastic RSI is below 20 for a long time since the first week of August.
Actually, look at these indicators on higher timeframes: 2W, 3W, 1M, 2M! Stochastic RSI is below 20 and potentially ready for a cross up.
It is very early because the candle is not closed yet. We want to see it closing in a bullish way: bullish hammer, dragonfly doji etc. We then should wait for another week for confirmation. This will suggest that the downtrend is probably over and it is going to be more profitable to hold Ethereum instead of Bitcoin because Ethereum will outperform Bitcoin in the coming months.
PROTIP: smaller altcoins will outperform Ethereum!
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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.
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.