We previously expected a reversal on multiple occasions, unsuccessfully each time. Last major prediction is visible in the chart (blurred). There were two major lines of support for ETHBTC, it broke the first one, then it bounced off the multi-cycle support line and we predicted the bottom at that stage and went long.
Unfortunately, that bounce was both short-lived and weak and ultimately it reversed all the bounce and broke down BELOW the multi-cycle support line for ETHBTC.
We will not be shorting this, but the long-time frame for ETHBTC is now in the bearish mode.
Potential key levels to watch are marked below.
Unfortunately, that bounce was both short-lived and weak and ultimately it reversed all the bounce and broke down BELOW the multi-cycle support line for ETHBTC.
We will not be shorting this, but the long-time frame for ETHBTC is now in the bearish mode.
Potential key levels to watch are marked below.
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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.