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UncannyDeduction
Jul 21, 2017 9:41 PM

Ethereum/Bitcoin - false breakout Short

Ethereum / BitcoinBitfinex

Description

Returning to the trend as expected.

Comment

It's breaking out.

Expect Ethereum and Bitcoin to be revalued against eachother.
I'm less bearish on ethereum now. Ethereum target is now $160.
Comments
mohadcs
Really!!, so what is the expected entry point?
UncannyDeduction
UncannyDeduction
@mohadcs,
Bitcoin's gonna Burn & Ethereum's gonna Eradicate!
mohadcs
@LogicalDeduction, Many thanks, now i have USDT, and little BTC, what do you recommend, which one (btc or eth) will be faster to move?
should i buy btc and take the profit and and then get some eth at your suggested entry??
i am little bit confused.
UncannyDeduction
@mohadcs, Please don't thank me! I prefer it that way.
I'm going to buy the first one that crashes to a plausible level.
I will expect a huge bounce from the bottom to the top of the trend channels for both crypto currencies.
So let's say Ethereum buy at around 95 and sell at 145. And Bitcoin buy at around 1170 and sell at 2100.

UncannyDeduction
@mohadcs, Hmmm... I see one extra little fortune cookie now! :)


95 / 1170 = 0,0812

That means that after the crash the ratios will still be on about the top of the trend (BITCOIN/EHTERUEM graph at top).
That's a great proof of concept that my trend channels are valid for both Bitcoin and Ethereum!
UncannyDeduction
@mohadcs, Bitcoin looks pathetically weak at the moment. Hopefully it will soon wake up to its unavoidable demise.
mohadcs
@LogicalDeduction, do you see eth? it moved up after 220 level which is strong support level, right?
mohadcs
@LogicalDeduction, also btc reversed from 2600 support level! what do you think?
UncannyDeduction
@mohadcs, As I said. My subjective belief is that they will both crash.
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