Ethereum: weekly market analysis (from 8 January to 14 January 2020 on a BTC / ETH pair)

BTC / ETH stable situation despite volatility

As for the 30D graph, the situation is substantially identical to that of a week ago, with the price suspended halfway between the pivot point and the S1; so it is useless to waste more time on a time frame that does not give us any food for thought, instead let's try to see if we are more fortunate with the weekly chart.

Unfortunately, however, even in this case we do not find further ideas compared to the line of thought that we have been following for some time, the MACD, which I expected by now to have become bearish, in reality still shows a fairly ambiguous trend and I do not feel to exclude that may find new bullish momentum in the coming days.

The situation, of course, is not very different even on the 1D chart, even in this case, in fact, we do not find new food for thought but, moreover, as mentioned, the price ranges identified a week ago are still intact so we cannot do nothing but remain in patient waiting for a break that finally defines the real trend of the trend.

Weekly forecast

Trading, after all, is nothing more than an exercise in patience, you have to be patient to wait for the trends to direct, that the breakages that allow us to operate on a given asset occur, reducing the risk to a minimum, we must, in other words, knowing how to wait for our chance.

 Right now, as far as Ethereum is concerned, deciding to take any position is equivalent to throwing a coin, so it doesn't make any sense to decide now; what we have to do, very trivially, is to wait for the breakdown of one of the price levels that we had already identified last Tuesday and therefore share 0.0163BTC (for support) and share 0.01894BTC (for resistance).

Next Tuesday we will be able to find out together if the situation will still be stalled, for now there is really nothing else to say.

Please note: this post is not intended to provide in any way financial advice relating to how to invest your money but has purely educational purposes.