Today’s market combines the two strongest cryptocurrencies in the crypto sphere, Bitcoin and Ethereum.
We have been seeing constant price increases in the crypto market during the 5 months, growing exponentially during the last 3 weeks. However, how is it possible to see the ETH/BTC chart has been continuously decreasing to almost historical lows?
What does it mean? As we know, Bitcoin it the dominant crypto and when it pumps none the rest of the cryptocurrencies, even if it is Ethereum, can keep its pace, therefore resulting in losses for this paid.
How can we apply this to our daily trading? Once the BTC price is increasing, and especially if it is pumping, the pairs cryptocurrency/cryptocurrency will decrease heavily. This is a very important insight when using your trading bot. We must be very careful when trading from a crypto that is not stable when a bull run kicks in since it can leave us with strong bags.
--CRYPTOHOPPER--
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After touching R1 it is now retracing and aiming to S1.
Good time to short even catching it halfway already.
Will update once it reaches S1
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The Bitcoin price fell to $7,100 and the pair ETH/BTC increased.
The pair strongly broke R1 and now heading to its next resistance R2 at 0.03545. Will it break it or the resistance will show its strength? We will have to keep a close eye on how the Bitcoin price behaves after this retracement.