Very Strong Sell Indicator for ETHBTC Cross
Whether it is selling a CFD or merely moving money from ETH to BTC, the short term for this cross is pointing downwards. This is because ETH and BTC are at very different points in the day graph:
* ETH is in overbuy range while BTC is almost touching the oversell.
* ETH just hit the all-time high amid diminishing market, which increases the tension downwards. BTC hit a major low and appears to have found support, so up it should go.
* BTC today tiuched the 1W median of the Bollinger Bands. Any sustainable move downwards would indicate a long bearish market, which is unlikely for now. ETH is on the median of the bands in the day graph, which is not a significant support.
Make no mistake, the foreseeable future belongs to ETH in terms of growth. However, the short term, that is the few days to come, it's another story.
* ETH is in overbuy range while BTC is almost touching the oversell.
* ETH just hit the all-time high amid diminishing market, which increases the tension downwards. BTC hit a major low and appears to have found support, so up it should go.
* BTC today tiuched the 1W median of the Bollinger Bands. Any sustainable move downwards would indicate a long bearish market, which is unlikely for now. ETH is on the median of the bands in the day graph, which is not a significant support.
Make no mistake, the foreseeable future belongs to ETH in terms of growth. However, the short term, that is the few days to come, it's another story.
