At lower part of the range (Buy setup) – ETH/BTC

Brian Leclere - 14 March 2022 - APP BTC ETH

Context:

Etherum is evolving wit h a clear outperfomance versus Bitcoin since the end of 2019. This ETH outperformance trend is since the last past 9 month in a pause within an ascending range (Yellow). Regarding the wave structure composing the ascending range we can conclude that the pattern is now or about to be finished and show an opportunity to catch a new significant bullish dynamic by anticipating a bullish breakout from this structure and at least a test of the previous top area in a common part scenario (Last upside leg before consolidation)

> News flow: More and more articles are speaking about ETHV2 , it is more than probable that ETHV2 will be full operational one day but many people into blockchain tend to say it will not be for this year maybe… So take care… buy the news yes but the technologie can take time to be released. Also Many regulation and supervisor are banning the POW mecanism in oreder to eraze the consequence of the mining so we can’t ignore that ETHV2 will be not operational before a ban of the POW from many juridiction….. (Time to check HBAR : Hedera Hashgraph which offer a significant alternative in this context)

Key Elements:
– Lower part of the ascending range is support
– 233EMA is support whil the shorter period are mixed (Range config)
– an ongoing divergence on RSI can be highlighted ( bearish momentum exhaution)
– Fibonacci multi level at 0,0595

Tactical View 3 to 9 Weeks
Last upside leg – As long as 0,0595 adjust the weight of the ETH and BTC in the portfolio in order to reduce the BTC exposure.

 

(Price are displayed in USDT) 

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