Ethereum (ETH) vs. Bitcoin (BTC): Volume Analysis
Looking at Ethereum (ETH) vs. Bitcoin (BTC), we noticed more evidence that ETHBTC is at a critical inflection point. Looking back to June, we see that ETHBTC is now near the zone where the majority of volume has traded. This could mean one of two things. First, it could mean that Ethereum (ETH) vs. Bitcoin (BTC) has reached a "comfort zone." With the way volume analysis works, an instrument can get stuck or range trade in high volume zone.
Second, the high volume zone would add to the power of a breakout if one unfolded to the upside. The reason being is that the high volume zone adds to the resistance at that level. So a breakout above 22 would have even more meaning.
Bottom Line: With little price action to go off, we wait to see if our Ethereum-based positive view of crypto pays off.
Second, the high volume zone would add to the power of a breakout if one unfolded to the upside. The reason being is that the high volume zone adds to the resistance at that level. So a breakout above 22 would have even more meaning.
Bottom Line: With little price action to go off, we wait to see if our Ethereum-based positive view of crypto pays off.
