Sherem
Long

ETH/BTC looking to break this trendline

BITFINEX:ETHBTC   Ethereum / Bitcoin
We have been waiting patiently for ETH/BTC to reverse. If ETH/BTC breaks this large gold trendline , we will be going much higher.

Happy Trading,

-Sherem
Comment: If you refresh this chart you will see that we are just starting to come up over this trendline. If we get a solid close(it might take an extra day) it will be confirmation that we are moving to our .055 target area
Comment: Refresh this and you will see it's broken that trendline. Just a matter of time before we get a bigger move up
Comment: We're on the way up folks.

All my posts are not intended as financial advice, just me sharing what i am doing with my research and positions. Don't stress, pick your points and don't use leverage.
Nice Job very interesting. I was excited about ETH entry point yesterday!,
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I'm positive in ETH, and every coin has their own issues, so, scalability is not a big problem for ETH in the long term if they can survive. I don't think ETH can go any lower, like below $100, unless BTC goes to $3000, so, I will continue to support ETH, good job, @Sherem, but as the conference in San Francisco in Oct for ETH is apporaching, what you think of the target profit we can reach by Oct 6? @Sherem
wanna listen to your comment, thanks a lot for the analysis.
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Sherem Victorwu88
@Victorwu88, For ethusd, the 500 area is what I am targeting, potentially much higher depending on what happens in october
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And if pigs could fly, we'd all be carrying umbrellas. LOL

To achieve this miracle, you're looking at an 80% increase in this ETH/BTC ratio. It is possible, sure. But is this probable?
Keep in mind the gold trend line is getting further and further away from your red resistance line so this 80% percentage will increase over time.
+3 Reply
@BDG, Improbable that we go to .055? I think its highly probable we go there if not higher (eventually, of course). We hit this 2017 low, plus it almost got into 2016 territory if you zoom out

+1 Reply
BDG Sherem
@Sherem, but there are ETH scalability problems in everyone's mind right now, that wasn't there in 2017. Plus the sell off of cryptos also mean ICO's are dumping their hoard of ETH which wasn't there in 2017 either. This is of course driving the ETH price down. Many alt-traders are getting out of Alt's and into BTC for safety. I personally think this ratio is going to break the 2017 lows by a wide margin.

The crypto world has changed in the past year and I don't think we can compare this year's ratios with last year's until these external factors turn positive in ETH favor over BTC. I expect this ratio to drop by another 33% to 0.02 by end of the year, if not sooner (Oct 30?).
+3 Reply
if everyone is selling why is it going up now?MM can do what they want.
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BDG BuyGanyo
@BuyGanyo, ETH is going up because of the rising tide. If ETH breaks above $300 and stays above it, then I'll be a believer. But I have to assume this bullish day is just another bull trap like all the rest.

Charlie Brown is running to kick the football, and we all hope Lucy won't pull the football away this time. But Charlie Brown should know better. And so should we.

https://www.youtube.com/watch?v=055wFyO6gag
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@BDG, well it may not go above 300$ now or the coming weeks but one day it will. Depending on bitcoin dominance.
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@BDG,
Just remember. Price causes sentiment, not the other way around.
If ETH was at 0.1 on the ratio, no one would give a shit about scalability. Have fun missing out
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