ETH/BTC – 30M – BUYThe combination Ethereum/Bitcoin (ETH/BTC) breaks through the descending trendline up.
A bullish movement up to the next resistance level at 0.032500000 is expected.
Caution: A possible trend reversal in the direction of support at 0.031790000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair is likely to rise.
In addition a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. this is usually a bullish chart scenario. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.0325 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.032500000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Belt Hold’ candlestick pattern is detected. The chart forms ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.032500000 |
| Current Price | 0.032220000 |
| Next Low | 0.031790000 |
| 2nd Low | 0.031540000 |
| 3rd Low | 0.029940000 |
0.032500000 – 0.032120000 – 0.032210000 – 0.031790000 – 0.031540000 – 0.029940000
Trading Signals: FOREX – ETH – ETH/BTC – BTC – Bullish Belt Hold – Double bottom chart pattern