ETHBTC | Ethereum Countercyclical Bounce vs. Bitcoin

The Eth selloff has extended fully to the 0.618 of the entire bullish move. Trading data shows Eth usually experiences a bounce as market makers soak up some of the supply with their Bitcoins for a countercyclical long move. Let's watch price action and try to get involved here once we have a few confirmations. If we see strength in the BTCUSD and ETHBTC chart, we'll want to trade the latter ;)

RSI and MFI are showing bullish divergence. I am in from the bottom

Comment:

Trading below the 4HR stop-loss, so we should sit on the sidelines and keep watching ;)