Please profit well from this trade and fund my education... Grateful if you do...
I had already published a trade where in I had marked ETHUSD to fall about to USD 150 which is very much on cards. But this chart is quite independent of USD prices which Bitcoin is impacted by.
There can be two meanings of this: 1. Bitcoin may rise quicker than ETH (ratio) to keep ETH at USD 150 and the head and shoulder pattern complete 2. Bitcoin may remain crack a little, and ETH falls only 66% from current levels towards 103
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This chart leads me to believe that the "freak" trades were not all that freak... They may actually be following the trend lines.
If the freak trades are considered mainstream, then the above prophecy seems already met and we may be in a correction to the corrective. In other words, getting ready for the next move up. The possibility of this although is too less.
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Is anyone following this thread? No answers = No further updates on this thread!
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This followed point 1 properly... Reached USD 136, and then in the rise, it further did base bottom by going lower. FANTASTIC!
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The last week has been a great time to learn the formula ETHUSD=ETHBTC*BTCUSD
As suggested many times, first the BTCUSD would rise, while ETHBTC corrects. Then ETHBTC would begin rising to keep ETHUSD stable and end correction.
Viola, what movements! Someone please give me a medal! ;)
You expect it to go down all the way to 0.041239 actually?
indian_ceaser
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@stuff, It has done the minimum... Remember the other chart with the reversal box... It's still within it for ETHUSD calculations. The point I had made is that there will be a time, when ETH will remain stagnant and BTC rises. This is only possible if ETHBTC falls. It is currently following that pattern.
The point I presume is reversal, in current time frame, is just 2% below the current ETHBTC value, i.e. 0.07. (It looks like a funnel pattern.)
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@indian_ceaser, yes, noticed the stagnant behavior vs bitcoin. But this would mean bitcoin keeps rising. I guess that is the part that puzzles me ;)
I just found you, and plan to follow. I am looking for an re-entry into ether. Thanks much!
indian_ceaser
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@AugustusMcCrae, Thank you! Before making a trade, I always ask myself:
1. Is there a compulsion to enter? (Example: buy ether for purchases?)
2. Can I wait for a while?
3. Is what I'm going to purchase dependent on something else? (ETHER is heavily dependent on pricing on BTC, I know people may disagree here)
4. Is this the best buy? (This comes with experience. For instance, in stock markets - Banks & Financials always rise first in greater quantums than others as a group)
So, can you decide with the above four questions and let know?
AugustusMcCrae
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@indian_ceaser, I'm having trouble just understand the sites to use and how to calculate gain and loss. Does it make sense to go on Margin if I can set up a stop/loss? Hard to communicate via the threads. Thank you for this so far.