For #ETHBTC, 0.025 is multi-year support that held price above for more than 2 years.
Looks like it is being tested too many times and by this price cluster, we could easily see a move below this very important price level.
If this gets broken, that will stay meaningful for the future price action.
It will be a very strong resistance. Only if it gets reclaimed, we can look for buy entries.
Two buy setups on ETHBTC:
1) Bounce off the support, close above first resistance (0.03) and buy entry on the retest of that 0.03 price level.
2) Price brakes through support leading this pair into capitulation. Once it’s over, it closes back above 0.025BTC and we are buying on the retest of that level.
Hope it was clear. Everything else is just risking being stopped out without being invalidated.
Looks like it is being tested too many times and by this price cluster, we could easily see a move below this very important price level.
If this gets broken, that will stay meaningful for the future price action.
It will be a very strong resistance. Only if it gets reclaimed, we can look for buy entries.
Two buy setups on ETHBTC:
1) Bounce off the support, close above first resistance (0.03) and buy entry on the retest of that 0.03 price level.
2) Price brakes through support leading this pair into capitulation. Once it’s over, it closes back above 0.025BTC and we are buying on the retest of that level.
Hope it was clear. Everything else is just risking being stopped out without being invalidated.