The Case for a ETHBTC Swing trade SHORT
My last idea came because I just saw an opportunity for a quick scalp. However, the more I looked at longer term charts I think a decent case can be made for a swing short. I'm trying to tune out my feelings on BTC at the moment because I'm nervous about SegWit2x but it's probably just an opportunity to buy cheaper BTC as it always is when people panic. Anyways, not pictured is the daily chart, where we see yesterday's candle had a nice top wick, as well as this morning. Looking at the above intraday chart, keeping in mind the last thin zone chart, we can see our indicators showing this might be a good place to start a longer term position. DI+ smacked into a high that historically has provided good top/bottom calls for DI+/-. RSI is about to test its uptrend while the stochastic indicator looks like it already broke its support, which is a good sign for shorts. If you like targets, I think a good first target would be .066 which seems to be support. Good luck.
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