ETHBTC: Serpent is awaken
Technically speaking, I just signaled ETHBTC weakness which has been put into a Red State by moderators since, seemingly, it lacked enough explanations.
Well! It turns out that the analysis, though brief, has come true and a fair decline is recorded as you can see:
https://www.tradingview.com/chart/ETHBTC/rOoDVhnN-ETHBTC-Monthly-Technical-Weakness/
* Very well! What now?
1. Periodicity, there are 3 Phases of ETHBTC Super cycle:
- 1st From 01 Oct, 15 to 01 Apr, 17 - 548 Days, some 18-19 Months - Uptrend;
- 2nd From 01 Apr, 17 to 01 Jan, 20 - 1005 Days, some 33 Months - Downtrend;
- 3rd From 01 Jan, 20 to 01 Jul, 22 - 912 Days, roughly 30 Months - Up;
- 4th From 01 Jul, 22 to 01 Oct, 24 - 823 Days, roughly 30 Months - Down;
* Average length of each UP & DOWN Trends: 27 Months
As a result, based on Periodicity and Cyclical Impulses & Retracements I would say that ETHBTC pair is quite ready to gain strength toward illustrated 1.618 to 2.618 Extension Fibs shown on the chart.
Other Technical Indicators
- The RSI (2): there are to positive divergences in 3M time frame - one longer term and the other shorter term.
Precautions: You need to observe Risk & Capital Management
DYOR,
Good luck!
Morteza Emzajerdi
Well! It turns out that the analysis, though brief, has come true and a fair decline is recorded as you can see:
https://www.tradingview.com/chart/ETHBTC/rOoDVhnN-ETHBTC-Monthly-Technical-Weakness/
* Very well! What now?
1. Periodicity, there are 3 Phases of ETHBTC Super cycle:
- 1st From 01 Oct, 15 to 01 Apr, 17 - 548 Days, some 18-19 Months - Uptrend;
- 2nd From 01 Apr, 17 to 01 Jan, 20 - 1005 Days, some 33 Months - Downtrend;
- 3rd From 01 Jan, 20 to 01 Jul, 22 - 912 Days, roughly 30 Months - Up;
- 4th From 01 Jul, 22 to 01 Oct, 24 - 823 Days, roughly 30 Months - Down;
* Average length of each UP & DOWN Trends: 27 Months
As a result, based on Periodicity and Cyclical Impulses & Retracements I would say that ETHBTC pair is quite ready to gain strength toward illustrated 1.618 to 2.618 Extension Fibs shown on the chart.
Other Technical Indicators
- The RSI (2): there are to positive divergences in 3M time frame - one longer term and the other shorter term.
Precautions: You need to observe Risk & Capital Management
DYOR,
Good luck!
Morteza Emzajerdi
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