Technical Analysis

Is ETHBTC Pair Turning Bullish?Jul 5, 2024

ETHBTC pair can be turning bullish, as we see strong rebound after a completed corrective decline by Elliott wave theory.

We talked about ETHBTC pair back on May 14th, where we mentioned and highlighted the completion of an (A)-(B)-(C) corrective setback with the wedge pattern within wave 5 of (C). CLICK HERE

Is ETHBTC Pair Turning Bullish? ETHBTC Daily Chart From May 14 2024
ETHBTC Daily Chart From May 14 2024

As you can see today on July 05, ETHBTC pair bounced from projected 0.045 support area, which can be signal that it’s turning back to bullish mode, especially if breaks back above 0.061 region.

Is ETHBTC Pair Turning Bullish? ETHBTC Daily Chart From July 05 2024
ETHBTC Daily Chart From July 05 2024

Regarding dominance in the Crypto market, we still believe that ALTcoin dominance may kick in soon and new ALTseason could be around the corner. One of the reasons for this view is also ETHBTC chart, which can be already turning bullish, but for now we are observing a minimum three-wave A/1-B/2-C/3 rally. If we take a closer look in the 4-hour chart, we can now see it finishing an a-b-c pullback in wave B/2 after recent sharp and impulsive rebound into wave A/1, so it can find the support around 0.50 area, from where we will expect further rally within wave C or 3, which might actually be the ALTseason.

Is ETHBTC Pair Turning Bullish? ETHBTC 4H Chart July 05 2024
ETHBTC 4H Chart July 05 2024

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Gold And Bitcoin May Resume Their Uptrend Soon; Can Bitcoin Catch Up Gold? Check our blog HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.