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ETHBTC trade ideas

ETHBTC 2023 Weekly AnalysisA weekly panorama of ETHBTC. Looking good in the long term. As of now, Ethereum is slowly outperforming BTC but we are not quite there yet. The ETHBTC trading pair is often used by cryptocurrency traders and analysts to determine the beginning of an "alt season." An alt season refers to a period when alternative cryptocurrencies, or "altcoins," outperform Bitcoin in terms of price gains. The reason why the ETHBTC trading pair is used to determine alt seasons is because Ethereum is considered a key indicator of the health of the altcoin market. This is because Ethereum is the most popular platform for creating decentralized applications (dApps) and smart contracts, and many altcoins are built on the Ethereum blockchain. When the ETHBTC ratio is increasing, it means that Ethereum is outperforming Bitcoin, which can be a sign that altcoins are gaining momentum. This is because as Ethereum gains value, it attracts more attention and investment from traders and investors, which can spill over into the wider altcoin market. Conversely, when the ETHBTC ratio is decreasing, it can be a sign that the altcoin market is losing momentum and that investors are flocking back to Bitcoin, which is seen as a safer and more stable investment. In summary, the ETHBTC trading pair is used to determine alt seasons because it reflects the relative performance of Ethereum and Bitcoin, and Ethereum is considered a key indicator of the health of the altcoin market. When Ethereum is outperforming Bitcoin, it can be a sign that the altcoin market is gaining momentum, while when Ethereum is underperforming Bitcoin, it can be a sign that the altcoin market is losing steam.
Long
by CryptoGao1
1
ETHBTC About to bottom and Ethereum to outperform?We haven't looked into the ETHBTC pair in a while but there is no better time than now, in the build up of what the market calls an 'alt season'. As you see the pair hit its 1D MA50 (blue trend-line) this week after a strong rebound on the RSI from below the 30.00 oversold barrier. Last time that happened was on June 13 2022. The Fibonacci levels help at identifying key Support and Resistance levels within this two year horizon very effectively. The question is, do we have one last Lower Low on the 1D RSI trend-line before ETH starts outperforming BTC again? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
#Ethereum Adds 10% versus Bitcoin as Traders Target 0.072 BTCPast Performance of ETHBTC After underperforming Bitcoin throughout Q1 2023, dropping roughly 20% in three months, the tide is beginning to change. ETH buyers are in control when writing, checking the performance in the daily chart. As it is, ETH is up 10% from March lows. At this pace, and with ETH prices breaking out versus Bitcoin, traders can look to add to their longs, riding the emerging trend. #ETHBTC Technical Analysis The path of least resistance is northwards as Ethereum recovers after sharp losses in Q1 2023. Critical support lies at March lows at 0.062BTC while a reaction line traders should watch is 0.065 BTC. With prices above the middle BB, every dip is a loading opportunity, with targets set at mid-March 2023 high at around 0.072 BTC. Per the formation in the daily chart, traders can look to buy the dips as momentum picks up. Already, bull bars appear to band along the upper BB, a possible opportunity for bulls. What to Expect from #ETHBTC? The ETH rally is driven by fundamentals as network users look forward to Shanghai. At this pace, ETH may peel back losses posted versus BTC, retest March highs, and even push back to Q1 2023 highs and primary resistance at 0.077 BTC. Resistance level to watch out for: 0.072 BTC Support level to watch out for: 0.065 BTC Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
1
Big altcoin move incomingThe ETHBTC chart is very helpful for identifying when altcoins are about to have a strong move, the reason for that is because Ethereum tends to run the entire altcoin market. It isn't a perfect indicator, but in general if ETH is performing well, then so are many other altcoins. ETHBTC is currently retesting a resistance line that it broke below. This is technically a bearish retest, but if ETHBTC can break higher, this could be the opportunity for much of the money in the market to flow into the altcoins. However, on the other hand, if this bearish retest is confirmed it could be very bad for the altcoin market. This isn't something I would front-run a trade on, but gives us some insight that the next move in the market could be a large one. And it's always good to revisit BTC outlook to see how these may overlap. And in the chart below we can see BTC is still in the range that we have been watching for over a week now. So the scenarios that could play out are the following: ETHBTC bearishly retests and BTC breaks lower, altcoins will get crushed if this happens ETHBTC bearishly retests and BTC breaks higher, altcoins will likely not trade very well. This is similar to some of the altcoin trading we've had in the last few weeks. ETHBTC breaks higher and BTC breaks lower, altcoins could be difficult to trade in this scenario as well, likely a mix between some bleeding out, some moving higher, and some stationary. ETHBTC breaks higher and BTC breaks higher, altcoins will see significant upside if this happens. My motive in these scenarios as I've mentioned in recent posts, is just to remain on the sidelines. I only like to trade when there is a clear advantage on my side and I don't currently see it. So rather than betting on one side, I opt to just keep my capital safe. Happy trading!
by Obscure_Trading
1
🔥 Become A Better Trader By Using The ETH/BTC ChartBitcoin and Ethereum are respectively the largest and second largest crypto by market cap. Officially, ETH can be seen as an altcoin, which has historically behaved differently from Bitcoin. A rise in the ETH/BTC chart generally means that altcoins (=everything which is not BTC) is outperforming Bitcoin on average. The inverse is also true. However, when we apply the RSI to the ETH/BTC chart we can generally pinpoint the moment of a 'change in market sentiment'. In other words, the market will become volatile after the ETH/BTC chart has become oversold or overbought. During the bear market, an overbought ETH/BTC has nearly always been the signal for a coming dump. During the bull market, an oversold ETH/BTC has nearly always signaled an upcoming bullish move (scroll left on the chart). As seen on the chart above, ETH/BTC was severely oversold two weeks ago. With nearly all on-chain metrics saying that the bottom is in, this oversold reading might signal that we're going to see a move up in the near future. Enjoyed this analysis? Please drop a like and subscribing for future content 🙏
Long
by FieryTrading
8
ETH/BTC Bear Flag Pattern Forming Attention traders, I am sharing my analysis on ETH/BTC trading at 0.064 BTC. Based on the chart pattern, I have a bearish outlook on this pair. Currently, a bearish flag is forming, and I am waiting for a breakdown for strong confirmations. The bear flag support is around 0.063 BTC, and the resistance level is at 0.066 BTC. As per my chart analysis, I am expecting two targets: Target 1: 0.0583 BTC Target 2: 0.0532 BTC This represents a potential 17% downside from the current trading level. Please remember to place your stop loss as per your preferred risk-reward ratio. Stay vigilant and trade responsibly. Disclaimer: This is my personal analysis and not financial advice. Always conduct your research before making any trading decisions.
Short
by CryptoPatel
2
ETHBTC Altcoin indicator recovery due for alts? ETHBTC is used against Bitcoin, meaning, when Bitcoin is bullish ETHBTC will be bearish and when ETHBTC looks bullish Bitcoin will be looking weak. Ever since 2016-2017 crypto investors have been using this tool as an early indicator to get in alts and to find "alt seasons". You can also use this as an indicator along with Bitcoin to find when alts are going to be bloody all along. Whenever this indicator is looking bearish you know alts are going to be bearish together. If you did not this before, let me narrow down the importance of using ETHBTC as an indicator to find ALT pumps or ALT szns: -Ethereum Dominance: Ethereum is the second-largest cryptocurrency by market capitalization after Bitcoin. It has a significant influence on the overall cryptocurrency market, and many altcoins are built on the Ethereum blockchain. As such, ETHBTC can be a good indicator of the health and performance of altcoins. -Historical Performance: The historical performance of ETHBTC during previous altcoin seasons has shown a correlation between the price of ETH and the price of altcoins. When ETHBTC is rising, it may indicate that altcoins are also likely to rise in price. -Trading Pair: ETHBTC is a commonly used trading pair on many cryptocurrency exchanges, which makes it easy to track and trade. Investors can use ETHBTC to monitor the performance of altcoins and make trading decisions accordingly. -Technical Analysis: Technical analysis can be used to identify trends and patterns in the price movements of cryptocurrencies. By analyzing the charts of ETHBTC, investors can identify potential buying or selling opportunities for altcoins during alt seasons. -Diversification: Investing in altcoins can provide diversification in a cryptocurrency portfolio. By using ETHBTC as an indicator, investors can identify potential opportunities to diversify their portfolio and potentially increase their returns. -Market Sentiment: The market sentiment towards Ethereum and Bitcoin can impact the performance of altcoins. If investors are bullish on Ethereum, it may indicate a positive sentiment towards altcoins as well.
Long
by CryptoGao1
#Bitcoin Gains 12% versus ETH in Less Than 10 DaysPast Performance of ETHBTC Bitcoin bulls are in the driving seat, adding 12% versus ETH, looking at the candlestick arrangement in the daily chart. Notably, the coin is within a breakout formation, forcing ETH back below October 2022 lows. As it is, BTC bulls can continue looking for entries on every attempt higher towards resistance at 0.066 BTC, targeting 0.058 BTC in the short term. #ETHBTC Technical Analysis From the daily chart, the uptrend is clear. Even though BTC bulls are in a commanding position, it is evident that ETH bulls are in charge from a top-down preview. Notice that from June 2022, prices were mostly in consolidation, registering a bull flag until last week's push lower below the base. Still, ETH buyers are in a good position as BTC pushes hard, retesting the 61.8% Fibonacci retracement level. ETH might recover, but this may first require prices to expand above 0.066 BTC with rising volumes. In the short term, losses below 0.062 BTC may trigger even more losses towards 0.057 BTC, the 78.6% Fibonacci retracement of the June to September 2022 trade range. Aggressive traders can continue shorting any push higher with targets at this week's lows. What to Expect from #ETHBTC? Bitcoin bulls are in control, outperforming ETH in the short term. Since price action is within a bearish breakout formation, the downtrend remains, and prices might contract even more toward 0.062 BTC. Resistance level to watch out for: 0.066 BTC Support level to watch out for: 0.062 BTC Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer