ETNBTC Price Analysis – July 1
Traders have become apprehensive and neutral towards the pair as a result of a disappointing performance to the downside recently. ETNBTC may give early investors the needed advantage to buy from the low for a bullish run to the upside.
Supply Level: 0.00000034, 0.00000038, 0.00000040
Demand Level: 0.00000074, 0.00000057, 0.00000046
ETNBTC Long term Trend: Bearish
Although with a positive bounce on the supply zone on the level at 0.00000038 the risk bias to the downside remains intact as traders look to the demand zone to take advantage of the pair.
The chart pattern analysis and daily volatility have confirmed that the pair may later range around the demand zone on the level at 0.00000074 to bring a resumption of fall again to the supply zone.
ETNBTC Short term Trend: Ranging
On the flip side, looking at the 4-hour time frame, a retracement from the supply zone on the level at 0.00000038 is in play targeting the level on the medium term demand zone towards the level at 0.00000046.
The short term trend displays a short term bullishness which may later bring a fall from the demand zone on the level at 0.00000046.
Note: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results