CRYPTANALYSIS - HOUSE VIEW ON KEY ALTCOINS

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65. TECHNICAL ANALYSIS: ETHBTC (Published: 25th Oct, 2017)

Analysis

  • ETH/BTC rallied today as BTC/USD fell below $5500
  • Price has retraced to 38.2% Fibonacci level at 0.052747, but failed to go lower or make a higher high
  • Upward force is running out of steam and it should retrace again to the 50% Fibonacci level at 0.0517288
  • From there price can struggle for a while or go back up to a higher levels

Suggestion

  • No good trading signal right now, be patient and see if the price can hold the 50% Fibonacci level at 0.0517288
  • Go long if it rebounds upward at that level with strong volume

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