Introduction
In this blog post
we are going to do some analysis on ETH short term movements, and
what trades to open on ETH. It seems that ETH nowadays is a better choice to trade than BTC. This is due to the fact that ETH usually keeps retesting again and again its ATH and therefore this is an opportunity for us to make some gains.
Below we can see the daily chart of ETHUSDT in Binance:
Note: Above we can see that ETH from 21 Feb 2021 keeps on bouncing in the daily EMA Ribbon and hitting ATHs after 14th of April (when the miner conflict seemed to be resolved and the Berlin upgrade took place). This is a good setup because we can make multiple gain by trading the ATH resistance retests. The method to use is simply keep on buying below the retest line and selling on the ATH, while using leverage.
Below we can see the daily chart of ETHBTC in Binance:
Note: Above we can see that ETHBTC does not look so good and it seems that it will consolidate for a while before the next ATH.
Below we can see the daily chart of ETHBTC in Kraken:
Note: Bare in mind that there are critical variations on the price movement between exchanges.
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