Best Ethereum/Bitcoin prediction: Bitcoin and Ethereum meet in the thin red line


  • ETH/BTC 0.0338, this number separates heaven from hell.
  • In the medium term, charts are very positive for cryptocurrencies.

 

Do you want to know more about my technical setup?

 

Bitcoin and Ethereum are holding a hard fight at the relative price level of 0.0338 BTC/ETH. Below this price level, the downfall is set to return and probably some new historic low, perhaps in the XRP.

However, above this magic number, 0.0338 on Bitcoin/Etehreum, the market will enter a new phase of consistent and generalized increases.

 

 

At this point in time, it is still hard to know if the worst of this bearish market has passed in its more than twelve months of duration. However, if we look at the indicators in a 1-week time frame, the MACD is crossed up in its initial phases. It has room to travel until it reaches the first obstacle in the zero lines, an area entirely coincident with the one that has the price until its severe first obstacle in the price level of 0.055.

 

 

The DMI, also in the weekly range, shows a structure more likely to develop a bullish move than a bearish one since bears have a downward trajectory, although still dominant, while bulls have a rising path.

Halfway to the 0.055 BTC/ETH medium-term objective, the pair should be above the 23.6% level of the Fibonacci retracement system since the February 2018 highs. This retracement level coincides with 0.048.


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD is still chasing 10K

Bitcoin is trading well on Monday after some choppy price action over the last four sessions. The bulls just have not managed to have a clear run at the highs in recent session as every time the BTC/USD pair has a bullish close ...

More Bitcoin News

XRP/USD is stuck between a technical rock and hard place

Ripple has been moving higher on Monday as the sentiment in the cryptosphere remains positive. The XRP/USD pair has bounced off the 0.21 resistance point but looks like it could make another run on ...

More Ripple News

Ethereum Chart Update: ETH/USD is fine as long as it stays above daily SMA50

Ethereum (ETH) has been moving inside a range limited by $230.00 on the downside and $240.00 on the upside since Sunday. The coin tested lows at $224/62; however, the sell-off attracted new short-term buyers that ...

More Ethereum News

NEO Price Analysis: NEO/USD rips higher once again past 12.00

Neo is one of the major outperformers on Monday as the price has risen over 14% on the session. The psychological 13.00 is the next target after 12.00 was broken with ease in the EU ...

More NEO News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast

BTC

ETH

XRP