In 10 days, $ETH fell from 2571 to 2413, a 6.1% drawdown; over the same period, $BTC dropped just 2.4%. Is ETH gearing up for a big move, or has it really been abandoned?
Here’s the answer upfront: this is my first combined BTC+ETH post, so there are no levels from a previous post to compare with. I’ve noted down all the levels I’m sharing today. Tomorrow at 00:00, I’ll reveal the answers in front of everyone—and own it if I’m wrong.
$BTC is currently around 81410, up 0.12% over 24 hours and basically moving sideways. The range has been just 80809 to 81820—a thousand bucks.
Look at the first chart:
Green line S1 at 80800 is the 24-hour low; S2 at 79800 is the bottom of the long lower wick from October 15.
Red line R1 at 82950 is the October 16 rebound high; R2 at 84200 marks the row of highs that price repeatedly failed to break through from October 12 to 14.
Scenario 1: Hold 80800, reclaim 82950 with strong volume, then try for 84200.
Scenario 2: Break below 80800, and there’s a good chance of another sweep of the 79800 wick low.
$ETH is currently around 2413, down 0.63% over 24 hours, with the low of 2393 right underfoot.
Look at the second chart:
Green line S1 at 2393 is the 24-hour low; S2 at 2318 is the bottom of the October 15 wick.
Red line R1 at 2494 is where the October 16 rebound got pushed back down; R2 at 2580 is the previous high from October 12.
Scenario 1: If 2393 holds, first rebound to 2494; only a move above that would count as a sign that the decline has stopped.
Scenario 2: If 2393 breaks, that wick down to 2318 is likely to get filled.
Which is stronger, ETH or BTC? The exchange rate is 0.02965, down another 0.70% over 24 hours. Clearly, $BTC has been stronger these past few days.
My stance: For the short term, I’m backing $BTC . Bitcoin is holding up better, while ETH is still looking for a bottom. I won’t call a reversal unless ETH gets back above 2494.
What would you choose: add to $BTC first this week, or buy the dip in $ETH ?
⚠️Just my personal ramblings; this is not investment advice.
#BTC #ETH #MarketAnalysis
$BTC $ETH
Here’s the answer upfront: this is my first combined BTC+ETH post, so there are no levels from a previous post to compare with. I’ve noted down all the levels I’m sharing today. Tomorrow at 00:00, I’ll reveal the answers in front of everyone—and own it if I’m wrong.
$BTC is currently around 81410, up 0.12% over 24 hours and basically moving sideways. The range has been just 80809 to 81820—a thousand bucks.
Look at the first chart:
Green line S1 at 80800 is the 24-hour low; S2 at 79800 is the bottom of the long lower wick from October 15.
Red line R1 at 82950 is the October 16 rebound high; R2 at 84200 marks the row of highs that price repeatedly failed to break through from October 12 to 14.
Scenario 1: Hold 80800, reclaim 82950 with strong volume, then try for 84200.
Scenario 2: Break below 80800, and there’s a good chance of another sweep of the 79800 wick low.
$ETH is currently around 2413, down 0.63% over 24 hours, with the low of 2393 right underfoot.
Look at the second chart:
Green line S1 at 2393 is the 24-hour low; S2 at 2318 is the bottom of the October 15 wick.
Red line R1 at 2494 is where the October 16 rebound got pushed back down; R2 at 2580 is the previous high from October 12.
Scenario 1: If 2393 holds, first rebound to 2494; only a move above that would count as a sign that the decline has stopped.
Scenario 2: If 2393 breaks, that wick down to 2318 is likely to get filled.
Which is stronger, ETH or BTC? The exchange rate is 0.02965, down another 0.70% over 24 hours. Clearly, $BTC has been stronger these past few days.
My stance: For the short term, I’m backing $BTC . Bitcoin is holding up better, while ETH is still looking for a bottom. I won’t call a reversal unless ETH gets back above 2494.
What would you choose: add to $BTC first this week, or buy the dip in $ETH ?
⚠️Just my personal ramblings; this is not investment advice.
#BTC #ETH #MarketAnalysis
$BTC $ETH