I think the monthly downtrend might end up failing to reach its target, if $ETHBTC holds over 0.0213 it may go up rapidly in the next 13 days.
If it does, it could retest the monthly downtrend invalidation level, before the ratio has a chance to reach the bearish long term target I had outlined before. In that event, $ETHUSD may start to outperform $BTCUSD as both start to trend up once again.
Best of luck,
Ivan Labrie.
If it does, it could retest the monthly downtrend invalidation level, before the ratio has a chance to reach the bearish long term target I had outlined before. In that event, $ETHUSD may start to outperform $BTCUSD as both start to trend up once again.
Best of luck,
Ivan Labrie.
Comment:
#ETHBTC chart shows strength here, it seems the trend is likely to turn up as I expected:
Trade closed manually:
We had sold ETH back to BTC a couple days after this publication came out, it stopped accelerating, showing weakness of buyers, since there was not a strong enough follow through after the big initial jump in the ratio.
Now it is poised to fall even lower in the ratio, as $ETHUSD remains weak.
Now it is poised to fall even lower in the ratio, as $ETHUSD remains weak.
