Rather than watching BTC grind around 80,000, I’m more focused on ETH’s exchange rate against BTC. It just hit a 90-day low.
I ran the numbers myself using CoinGecko daily data: ETH/BTC was down to just 0.0290 three days ago and is now at 0.0291. A month ago, it was still above 0.032. In other words, over the past month $ETH has pulled back 13.6% from its 30-day high, while $BTC is down just 6.5%. ETH has fallen by almost twice as much.
Looking at where they stand now, the two are in pretty different situations.
BTC has stayed between 80,029 and 81,328 over the past 7 days, with a range of just 1.6%—so tight it’s a little suffocating. The 7-day moving average at 81,170 and the 30-day moving average at 82,780 are both overhead. It has also just fallen below the 60-day moving average at 81,355. For a real floor, I’m still watching the 90-day moving average around 76,980.
ETH is in a more awkward spot. It’s currently at 2,354, just below the 90-day moving average at 2,373, with a recent low of 2,320. Getting back above 2,373 would offer some breathing room. If it loses 2,320, the exchange rate will probably keep making new lows 😅
My take: BTC needs to break above 81,330 to get out of this narrow range. A drop below 80,000 could send it to test the 78,000 area. For ETH to turn things around, I’d first need to see its exchange rate stop making new lows. Simply rising along with BTC doesn’t mean much.
Question for everyone: do you think ETH/BTC will get back to 0.030 first, or drop below 0.028 first? 🤔
Just my personal opinion, not investment advice. Markets involve risk.
#BTC #ETH #技术分析 #ETHBTC
I ran the numbers myself using CoinGecko daily data: ETH/BTC was down to just 0.0290 three days ago and is now at 0.0291. A month ago, it was still above 0.032. In other words, over the past month $ETH has pulled back 13.6% from its 30-day high, while $BTC is down just 6.5%. ETH has fallen by almost twice as much.
Looking at where they stand now, the two are in pretty different situations.
BTC has stayed between 80,029 and 81,328 over the past 7 days, with a range of just 1.6%—so tight it’s a little suffocating. The 7-day moving average at 81,170 and the 30-day moving average at 82,780 are both overhead. It has also just fallen below the 60-day moving average at 81,355. For a real floor, I’m still watching the 90-day moving average around 76,980.
ETH is in a more awkward spot. It’s currently at 2,354, just below the 90-day moving average at 2,373, with a recent low of 2,320. Getting back above 2,373 would offer some breathing room. If it loses 2,320, the exchange rate will probably keep making new lows 😅
My take: BTC needs to break above 81,330 to get out of this narrow range. A drop below 80,000 could send it to test the 78,000 area. For ETH to turn things around, I’d first need to see its exchange rate stop making new lows. Simply rising along with BTC doesn’t mean much.
Question for everyone: do you think ETH/BTC will get back to 0.030 first, or drop below 0.028 first? 🤔
Just my personal opinion, not investment advice. Markets involve risk.
#BTC #ETH #技术分析 #ETHBTC