Where ETH/BTC might go next?
We've broken out of the yearly resistance R3 as seen in the previous idea. Completing our double bottom, I'm expecting price to continue to increase unless BTC does something drastic.
I found it slightly difficult to assess where ETH/BTC may target since price was very choppy in 2019.
Some ideas include:
1. A possible short term target of around 0.02485 based on previous supports. But may be a minor resistance.
2. A possible resistance as we approach 0.030; where taking some profit would be reasonable since
a. Double bottom formations tend to rise to a target roughly equal to it's size as shown on the graph
b. Previous support
c. Psychological level 0.030 is a round number
I found it slightly difficult to assess where ETH/BTC may target since price was very choppy in 2019.
Some ideas include:
1. A possible short term target of around 0.02485 based on previous supports. But may be a minor resistance.
2. A possible resistance as we approach 0.030; where taking some profit would be reasonable since
a. Double bottom formations tend to rise to a target roughly equal to it's size as shown on the graph
b. Previous support
c. Psychological level 0.030 is a round number
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.