ETH.BTC (Y20.P3.E2).Short term.ABC move
Updated
Hi All,
In the next 12 hours, I will feel confident in making a decision on bitcoin (after 3rd daily candle closing).
Hopefully it give a clear bullish or bearish sign > I will cover BTC in the next post.
I am leaning to a bearish candle as we have many things going against BTC now. I'll cover this in the next post.
If one is to look at ETH\BTC, it can be seen that we have some downward pressure emerging with bearish divergence as well.
Hence why ETH has been dropping against BTC and what I believe is that it hit its point 5 and now is doing the ABC correction as per the chart.
How this reflects or aligns with BTC doing the same is yet to be confirmed but it can be seen that on BTC, we had a doji and what looks like a BEARISH candle coming about in 11 hours.
Chart below.
For now, I see ETH hitting the 0.5 fib retracement on the chart and possibly deeper to 0.618.
Note on the daily the 21 and 34 EMA ribbon could be the area aligned with one of these fibs. for support
Meanwhile on the 4 hrly chart, we have the PHOEIX showing a turn as well as the WT and Stoch all hitting bottom, at a key fib level
We'll just have to wait and see.
Please give me a like or tick for this post
Regards,
S.Sari
BTC Daily chart
ETH.BTC > Note the divergence playing out.Blue EMA ribbon is the 21 and 34 on the daily
Big chart
Previous posts
In the next 12 hours, I will feel confident in making a decision on bitcoin (after 3rd daily candle closing).
Hopefully it give a clear bullish or bearish sign > I will cover BTC in the next post.
I am leaning to a bearish candle as we have many things going against BTC now. I'll cover this in the next post.
If one is to look at ETH\BTC, it can be seen that we have some downward pressure emerging with bearish divergence as well.
Hence why ETH has been dropping against BTC and what I believe is that it hit its point 5 and now is doing the ABC correction as per the chart.
How this reflects or aligns with BTC doing the same is yet to be confirmed but it can be seen that on BTC, we had a doji and what looks like a BEARISH candle coming about in 11 hours.
Chart below.
For now, I see ETH hitting the 0.5 fib retracement on the chart and possibly deeper to 0.618.
Note on the daily the 21 and 34 EMA ribbon could be the area aligned with one of these fibs. for support
Meanwhile on the 4 hrly chart, we have the PHOEIX showing a turn as well as the WT and Stoch all hitting bottom, at a key fib level
We'll just have to wait and see.
Please give me a like or tick for this post
Regards,
S.Sari
BTC Daily chart
ETH.BTC > Note the divergence playing out.Blue EMA ribbon is the 21 and 34 on the daily
Big chart
Previous posts
Note
Note
Hmm. after look at the weekly and monthly chart to work out support and resistance, it is quite visible that the resistance we hit was the MONTHLY RESISTANCE leve (MR) perfectly. Looking at the Weekly and Monthly levels, I can see that the 0.382 also has confluence around the 0.031473 level.
Hence I will be looking to enter here or the 0.5 fib level which is the Monthly support level as well.
Note
Note
CPR tools helps demonstrate level of resistanceNote
Very lucky today to buy ETH at the right time
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This community has signals now but with no risk management comms.
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