Hodl, dear members of LeoFinance!
Today, I would like to show you something interesting on the price chart of Etherem vs Bitcoin.
In the daily chart (1D), ETH starts to look better than BTC, again. There is a bullish distribution of the three key Moving Averages (MAs) - the 30-day Moving Average (MA 30) is at the top; in the middle, is the 90-day Moving Average (MA 90); at the bottom is the 360-day Moving Average (MA 360):
Actually, the bullish distribution of the three key MAs has formed recently - at the end of November/begging of December, a bullish Moving Average Crossover took place since MA 30 surpassed MA 90:
So, in the daily chart (1D), Ethereum starts to look stronger than Bitcoin again.
Moreover, in the 4-hour chart (4H), ETH/BTC is trying to exit the Ascending Triangle in the upward direction:
Theoretically, this triangle is a common trend continuation pattern. So, let's what and see if this exit is a real one and not a pitfall for the Ethereum bulls.
To be continued ...
As of the time of writing, one ETH costs $0,083873 BTC on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15+ years, and as a cryptocurrency analyst for the last 4 and a half years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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