TradingShot

BTC and ETH divergence indicates an incoming drop?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Quick observation. Whenever the two cryptos diverge in market structure, the price action tends to follow Ethereum . Since Ethereum is now on a descending channel we can assume it will break lower. Bitcoin should respectively follow lower. The pull back on Bitcoin is expected to be around -4% while on Ethereum -8%.
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Totally agree, check out my chart.
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TradingShot babyjungle
@babyjungle, Yes quite possible.
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I see... you did this.... Without this idea the opposite move wouldn't have happened. This is a zero sum game.
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TradingShot LogicalDeduction
@LogicalDeduction, Yes that is a logical deduction.
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@TradingShot, I don't know if your ironcal or being serious. I'm not saying it's your fault as a person, just saying this particular idea created this strange spike in the market. I'm pretty sure. I'm talking about that spike up and spike down that is visible at 5 min candle chart view.
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@TradingShot, Never mind you think I'm being a nut.
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Please take a look at our idea and let us know what you think!
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TradingShot safesignal
@safesignal, It will break upwards this time due to the long term support. You need to zoom out to see this.
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