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TheSignalyst
30 nov 2021 21:32

BTC is Powerful, but ETH is a Beast! Long

BINANCE:ETHBTC1W
Ethereum / BitcoinBinance

Descrizione

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Hello TradingView Family,

I found ETHBTC chart interesting. Here is why.

First, we had an inverse head and shoulders formed around 0.01-0.02 demand zone, then the bulls took over by breaking above the gray neckline.

We had our first impulse movement, and we are currently in a correction phase in the shape of an ascending triangle.

For the next/second impulse movement to start, we need to see a strong candle close above the upper bound / red trendline.

What does this mean?
ETH is showing strength, compared to BTC.
While BTC was trading inside a falling channel on Daily, ETH is holding its ground.

As I always say: BTC is Powerful, but ETH is a Beast!

What does a bullish ETHBTC mean?

Scenario 1 - ETHEREUM UP, and BITCOIN DOWN (just like this week)

Scenario 2 - ETHEREUM UP, and BITCOIN UP with ETHEREUM moving up more aggressively

Scenario 3 - ETHEREUM DOWN, and BITCOIN DOWN with Bitcoin moving down more aggressively

Which scenario is more likely to happen in your opinion? and Why?

All Strategies Are Good; If Managed Properly!
~Rich
Trend AnalysisChart PatternsWave AnalysisETHBTCETHBTCBitcoin (Cryptocurrency)Ethereum (Cryptocurrency)strongcorrelation
Commenti
Rackelle_M1
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You are our beast, this one is superb! Keep up the great work Sir 👑
TheSignalyst
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@Rackelle_M1, you are amazing! thank you Rackelle. Respect!
Saeed-sheikh
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Thanks for sharing, this month is not good for the digital currency family, the charts show an upward trend but a lot of negative news is on the way, my choice is number 3, good luck :|
TheSignalyst
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@Saeed-sheikh, Hello Saeed, who knows, last December was amazing ;) Follow your trading plan no matter what. best of luck gentleman
altersypl
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good job. well done
TheSignalyst
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@altersypl, thank you dear
icrypto1
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it is going down
TheSignalyst
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@icrypto1, yes it might go down to test the lower red trendline. we still need a candle close above the upper red trendline to confirm that the bulls are ready for another impulse
InkyGrip
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Nice work my friend! 🦐
TheSignalyst
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@plancton0618, thanks Plancton ;)
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