Ethereum was very strong against Bitcoin until June. But since then, it's just slowly descended until finally beginning to flatten out around .07
If we can hold this present level, which is support and former resistance back in March - April - May, then we could see money flowing into Ethereum from Bitcoin , which would further improve our thesis and give us more momentum to break through the Ethereum 400 highs against the dollar.
A breakdown would mean weakness against Bitcoin and weak momentum for any breakout against the USD.
Seriously, watch this chart.
!! PM me with any trading questions !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, .
Successful trading means proper risk sizing and trading small so you can stay in the game.
Sign up to TradingView charts:
Sign up for TastyWorks - The Best and Safest Broker