ETH/USD and ETH/BTC Technical Analysis November 2 2017

Avatar newsbtc 2 years ago


Ethereum continues to be very noisy, but most importantly consolidated of. It looks to me as if there is significant support just below at the $292 level, and if we can get that low, I am more than willing to start buying. A break above the $316 level continues to be what I need to see to go long of this market for a bigger move, but in the meantime buying little bits and pieces on short-term pullbacks could be a nice buying opportunity to build up a much larger position than usual.


With Bitcoin making all-time highs against the US dollar, it’s not a huge surprise that this market continues to drop from here. I think that the 0.047 level should now offer resistance, so on short-term rallies, and exhaustive candles, I am more than willing to start selling, as the downtrend is so firmly ensconced.

Thanks for watching, I will be back tomorrow.

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