Fake Breakout By Ethereum?
ETHBTC had strong performance yesterday with ETH rising 6.8% higher than BTC.
The Weekly Chart now shows an interesting setup with ETH having broken out of a trading channel and also now testing a long-term resistance level.
This may in fact suggest profit taking from Whales on ETHUSD and a possible rotation back into BTC, allowing the pent up pressure on BTC over recent weeks to break into a new bull run.
Alternatively, ETH may be moving to an even steeper trading channel.
Traders will watch for a break of the current resistance while hedging their bets across a diversified portfolio.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
The Weekly Chart now shows an interesting setup with ETH having broken out of a trading channel and also now testing a long-term resistance level.
This may in fact suggest profit taking from Whales on ETHUSD and a possible rotation back into BTC, allowing the pent up pressure on BTC over recent weeks to break into a new bull run.
Alternatively, ETH may be moving to an even steeper trading channel.
Traders will watch for a break of the current resistance while hedging their bets across a diversified portfolio.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.