"ETH overshot BTC" by trader webworker — published July 18, 2017

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Ethereum / U.S. Dollar (BITFINEX:ETHUSD)

BITFINEX:ETHUSD Ethereum / U.S. Dollar

Pennant Fibonacci

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pennant fibonacci

Current bear pennant on ETHUSD 15m, assuming a correction to fall back in line with BTCUSD .

One more thought here, since the drop from 400s, BTC retained more value and ETH is actually playing catch up :)
https://s3.amazonaws.com/tradingview/snapshots/b/BHxpVMmU.png

Amazing, I FOMO'd myself. At least it was a small mistake. Over time I'll learn to be disciplined lol. Keeping a close watch now for reentry point.

Closed my short at 225 for now, after we failed to break through .786 the second time

ETHBTC also spiked 20% over the same time frame today.

Or recover and go back,up

Ryandorsey90

@Ryandorsey90, I'm thinking back down to 200s then back in step with BTCUSD movements, what do you think?

webworker

@webworker, its starting to show a trend back on the 3 and 5 min. But not sure. The crash Hurt from bitcoin. I'm not sure at the moment

Ryandorsey90

@Ryandorsey90, I think your correct

Ryandorsey90

@Ryandorsey90, they're still tethered to each other, but ETH seems to have bigger swings. ETH going down now is making BTC go down slightly. I have a strong feeling once things are back in line where ETHBTC was around 0.8 BTC will lead the charge again. (I'm ignoring any Aug 1st stuff for the moment)

So your saying eth will drop ?