Upcoming altcoins season factors We should track Bitcoin Dominance and basically BINANCE:ETHBTC chart
Ill cut all noise and check Monthly timeframe
➡️Check how previously on a M tf altcoins react after money inflow
➡️We see same money inflow in alts at this current moment by my Money Power indicator
➡️Can we drop lower again? Of course. But I think it will not happen because of timing.
➡️Also I dont think so this alt season will be amazing like previous one and shorter
➡️Would like to see test buy line of my Trade On indicator M tf
➡️The same level will be full fill M fvg
➡️Bounce and end of altseason will be around take profit or exit line marked on a chart (same time I think bitcoin dominance will be around 45%)
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Ethbtcforecast
📈Ethereum overtake Bitcoin after Dencun update!📉BINANCE:ETHUSDT
COINBASE:ETHUSD
Ethereum can start an upward scenario on the eve of its update.
The condition for the occurrence of this bullish scenario is the stabilization of the price in the yellow range.
after that, the bullish scenario can continue up to the level of 0.06 and after stabilizing above specified level, it can go up to the channel.
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ETHBTC showing upside to come to 0.08 due to W and TriangleW Formation has formed on the ETH/BTC pair.
There is also an Ascending Triangle, with higher lows and same highs.
We are near the neckline where the price is quite likely to break up and out of.
We have other signs like
7>21 MA
Price>200 MA
RSI>50
Target is for the ETH/BTC to head to 0.08
For those that don't know how it works...
HOW ETH/BTC works
ETHBTC is a trading pair similar to Forex pairs.
With crypto, it represents the exchange rate between Ethereum (ETH) and Bitcoin (BTC).
And as always with trading pairs, there is a primary and secondary coin.
The primary (Ethereum) is how much 1 unit of ETH can be exchanged for a certain amount of Bitcoin.
ETH/BTC
1 / X No. bitcoins.
Right now, the current ETH/BTC exchange rate is 0.06.
This means, 1 ETH is worth 0.06 BTC.
Or conversely, we can see how much 1 BTC is worth in ETH.
To do that we divide the two.
BTC/ETH = 1/0.06 = 16.66 Ethereum per Bitcoin.
ETHBTC works based on the principles of supply and demand in the cryptocurrency market.
The exchange rate is determined by the ongoing buying and selling activity of traders on the exchange platform.
When there is more demand for Ethereum relative to Bitcoin, the ETHBTC price tends to rise.
Conversely, if there is more demand for Bitcoin relative to Ethereum, the ETHBTC price tends to fall.
Right now we can expect the ETH/BTC to go up, which means Ethereum will mostly likely strengthen in the near future compared to Bitcoin.
Hence I expect the price to go to ETH / BTC = 1: 0.08.
ETHBTC - Altseason is starting?My expectation is that the alt season has started but it won't last long. Growth will be but not for all coins.
My recommendations:
Do not buy old projects 2018-2020
Give preference to new projects 2021-2023
Place take profit with a ladder
When the price ETH\BTC reaches 0.75-0.77, reduce the positions to 80%
The information provided here is for informational purposes only and should not be considered as financial or investment advice.
ETHBTC - LT View!ETHBTC - LT View!
Crypto isn't always everyone's cup of tea, but I be honest it is part of my portfolio of investments and also will be...
Cup & Handle longer term, bullish momentum could continue further in ETH with the merge to continue and stated that there will be a various upgrades implemented one being - “Ethereum today can process about 15-20 transactions a second. This Ethereum including the rollups, including the sharding it’s going to be able to process 100,000 transactions a second,” Buterin said. Now this pattern could fail if we go below the EMA's.
Now the more I personally research into the fundamentals behind ETH and the various institutions out there, building various projects on top of ETH for me in my personal opinion which isn't investment advice I have am further bullish on ETH longer term 6-12months perspective and this will then I will be looking at various alt coins that again, research taken into in depth, It's early days the pull back brings out further great opportunities within this market.
Have a great weekend.
TJ
ETHBTC Breaks below Q1 2022 lows, May Slump to 0.057 BTCPast Performance of ETHBTC
BTC bulls have the upper hand over ETH prices as per the ETHBTC daily chart. BTC is trading at the highest point versus ETH in 2022 at spot rates following the close below 0.065 BTC on May 26. At this pace, BTC bulls are in control, and every attempt to retest 0.065 BTC may offer entries for Bitcoin bulls to double down.
#ETHBTC Technical Analysis
Technically, ETH is trailing Bitcoin. ETH is down 20 percent versus BTC in roughly two weeks, considering the formation in the daily chart. Following the break below Q1 2022 lows, the odds of more losses versus the resurgent BTC look likely. Notably, ETHBTC prices are trickling lower since the double bar pattern reversing the gains of May 10. The bullish bar of May 11 marked the beginning of another wave of liquidation pressure which saw BTC force prices below 0.065 BTC. BTC buyers may target October and July 2021 lows of around 0.060 BTC and 0.057 BTC, respectively.
What to Expect from #ETHBTC?
Bitcoin buyers are in control. Since the break below Q1 2022 lows has relatively high trading volumes, ETH could post more losses in the short term. In that case, ETH could drop another eight percent to July 2021 lows.
Resistance level to watch out for: 0.065 BTC
Support level to watch out for: 0.057 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.
ETH/BTC new bullish wave ?ETH/BTC
The chart is simple as shown
ETH still hold the critical lower support and broke the downtrend that was trading since December !
ETH/BTC is a good indicator for the market
When ETH/BTC turns bullish ,most of altcoins turn bullish too
This could be a start of new bullish wave in next few days/weeks ..let’s see …
Ethereum Breakout Against BTC Soon!!Looking at our ETHBTC daily chart we notice we have been slumping quite a bit against Bitcoin and have since formed a pennant, we are currently approaching the Apex point where we will see a forced breakout, we have about 3 days before that happens so the chance to breakout before is still there. A positive thing is that we are currently holding onto the 0.2 FIB level which is strong support and we also have a few more levels of support directly below us, we have the bottom of the pennant and then we also have strong support at 0.0733, all of these levels provide a good change to rebound to the upside. As for resistance we are looking at the 0.075 level and the top of our pennant, i will say it is very hard to determine where ETH is headed over BTC but i would confidently say we are much overdue for a reversal. Looking at the Stoch RSI we are on our way down after a bearish cross but the good news is that we have support waiting for us in the oversold zone, we almost everytime see a strong reversal out of this area on its own + we have a nice support level for a likely bounce, so this could mean we could be looking at a false downside breakout on price action before then rebounding back to the upside. Now same thing with the RSI we are still currently below the midline which means confirmed downtrend but we have just caught some needed support, we decide to break below this level we have another level of support coming in a bit lower, now this is where the false downside breakout also ties in! The longer outlook goal is of course to break above the 50. mark so we can reclaim a confirmed uptrend! Not financial advice just my opinion!
Daily ETH UpdateWell, it's hard to get a nicer chart than what we are seeing here today. ETH has completed a very bullish "cup and handle" pattern, followed by a breakout and retest of previous resistance. Now are just seeing a breakout to the upside of that retest. This move is being supported by a Normalised MACD crossover as well as RSI moving back up. OBV has gone green however I would like to see some more strength here. No signal can be trusted unless it has support from volume, so if you are looking to re-weight your portfolio from BTC to ETH just be aware that there is only weak commitment to this move. It is my opinion that the market will actually come in to support this move and we will see ETH continue to outperform BTC....but that's just my guess :)
POLYGONBTC Reminds me of early ETHBTCA comparison between Polygon/matic (btc) and ETH(btc)
The structures are very similar
I have noticed also that both coins are primarily used in buying NFT's and other Internet items, further justifying the comparison
I have just bought some Polygon based on this comparison and the above assumption