ETH to continue outperforming BTCBitcoin has been slumping pretty hard against ethereum which is a big positive for the altcoin market and the fall might just be starting, everything on BTC/ETH is looking very bearish. We have broken down below 2 pretty heavy downtrend support lines and looking at our current price action it is looking like we will see a daily close below both of these levels which would be a bearish sign for bitcoin but a great sign for ETH and the alts. we have support slightly below our current spot, the S1 & S2 support levels are holding up as of right now but a little more of push to the downside will definitely break these levels. Looking at the bollinger bands we are on our second daily candle where we are riding that bottom band and this plays into the reason i think this drop could just be starting, it is not uncommon when riding the bottom band for the dip to go on for multiple days. For our daily close its looking like we will close once again on that bottom band which is likely to continue dragging BTC down. The MACD recently had a flat period where our histogram bars weren't moving a whole lot, but the past couple days have been looking good, 2 increased red bars which is what we want to see and want too continue. The MA's are just starting to see some big separation increasing the bearish momentum and making it more and more difficult to get a bullish cross in the near term. Not financial advice just my opinion!
Bitcoinethereum
Long-term Short Position on Bitcoin/EthereumVolume sell spike, Bitcoin is dumping as people realize it is less useful for real world transactions than Ethereum
Ethereum is created by Microsoft, is open-source and worked on by PhDs
Bitcoin’s dev team can’t even decide when to fork their code
Satoshi’s vision could not have been to create a dominant cryptocurrency - it was to share the idea of crypto itself
Read up on the power of Ethereum smart-contracts
Ethereum transfer time between two addresses is 2-8 minutes compared to 45-60 minutes of Bitcoin.
We see on the Renko chart that we are well, well below the Ichimoku Cloud.
ADX and DI suggest selling is the appropriate action.
MACD signal line well below 0, amplifying future sell signals.
Stock RSI says undervalued but pay less attention to it.
Squeeze momentum constantly in the red since August.
As you can see, Bitcoin is in a freefall state compared to Ethereum.
For those not margin or future trading, I would suggest selling Bitcoin and buying Ethereum soon.
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my ideas not and invest idea my twwttr ===> Erer_Forex
3 hours ago
Comment: My ideas not an invest advice