ETHBTC Trading Idea

Let's look at the daily chart of ETHBTC and try to understand possible price movements. Based on Moving Averages we can see that this market is in the up trend and this correction movement gives us good trading opportunity. For opening long trades we have to wait when market reverses in the upward direction. The best reversal levels are Moving Averages with periods 50 and 100 and the support levels. Now we can see that price dropped to 0.100000 support level and MA50. We can expect price reversal from this area. If RSI reverses and moves upward, we'll have price reversal confirmation from this support zone. MACD histogram also must do the same, because now it confirms down movement. As for DMI indicator, it shows that we don't have strong movement and it allows us open long trades. These signals from indicators will confirm the market reversal and our buy opportunity. We'll be able to open long trades above the high of the bullish candle confirming price reversal. If market breaks 0.100000 level, the next reversal zone can be between 0.080000 level and MA100. These levels also will be good for buying.