My previous analysis of BTC.D got confirmed with weekly closure as bearish SFP for Bitcoin against ALTS. Hence here is a chart for you with a very nice opportunity to long ETH against BTC with superb R/R!
Reasons to enter:
1. We are at the bottom of a massive falling wedge on Weekly chart.
2. On the Daily chart, there is a possible stop hunt.
3. RSI on Weekly is EXTREMELY oversold and is holding at 24.
4. We are holding at very strong support. If it fails
Strategy:
Wonderful Risk/Reward Ratio = 10.27
Entry: around 0.01740000
Stop loss: 0.01453000
Target 1: 0.03573000
Target 2: 0.08493000
Wait for a follow up Daily chart on my profile. Trade safe!
Reasons to enter:
1. We are at the bottom of a massive falling wedge on Weekly chart.
2. On the Daily chart, there is a possible stop hunt.
3. RSI on Weekly is EXTREMELY oversold and is holding at 24.
4. We are holding at very strong support. If it fails
Strategy:
Wonderful Risk/Reward Ratio = 10.27
Entry: around 0.01740000
Stop loss: 0.01453000
Target 1: 0.03573000
Target 2: 0.08493000
Wait for a follow up Daily chart on my profile. Trade safe!
