Rule72

Growing Soil Grows Fruit

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
It has been clear that ETH has been hesitant. Please read this with the Bitcoin analysis (attached below) and see how ETH has curved compared to BTC . This has put $420 further out as ETH is waiting for BTC to give it some oomph.

Decision Box 1 is further out than that of BTC as any positivity in BTC could see ETH overperform into a fake out. Green Target 1 correlates well with BTC’s first green target, and so does Green Targets 2 and 3 to a lesser extent. Green Target 4 is not simply there because it came into view before, but that is a clear goal that cannot be denied. The result is a tentative forecast of correlation followed by a possible overperformance.
Decision Box 2’s attached black triangle is explained in the BTC analysis. The Red Targets have largely stayed the same.

Conclusion: As always, the correlation is relied upon. If the soil ( BTC ) turns bad, so will the fruits but in relation and vice versa. Very important to me: Please leave a like if you appreciate the effort, Please comment to develop this further and Please follow if you see this bearing fruit in the future, that you might like to know about.
Comment: Relating BTC analysis.
Comment: Previous ETH analysis
Comment: Bitcoin did well (run it from analysis above) but ETH has not (also push play above). Will it play catch up all the way to the ETH Green Target 2 if BTC gets to its Green Target 2, or will it stall at ETH Green Target 1 as though if that corresponds with the BTC GT 2? I think that watching the BTC price is more important now and would take the ETH Green Target 1 more seriously.
Comment: The correlation between ETH and BTC has inverted as ETH is being sold for BTC. As we all know, this cannot last forever. I still take the levels on the ETH chart seriously as they are "decision levels" and please "play" the BTC analysis above and see how it unfolded.

Comments

Now we should hit all targets one by one..
+1 Reply
Rule72 samky39
@samky39, The relationship between ETH and BTC has broken down as ETH is being sold for BTC - inversing the correlation. This cannot last forever as, with everything, selling exhausts like buying does. Thanks for your comment and support, samky39.
Reply
thanks I like this analysis! 🦐👍🏻
+1 Reply
Rule72 plancton0618
@plancton0618, Thank you for the support.
+1 Reply
precisely.
+1 Reply
Rule72 nagihatoum
@nagihatoum, Thanks nagihatoum
Reply
This is good work, and you kept in mind the BTC to ETH correlation. I wish BTC didn't have such effects on other assets.
+1 Reply
Rule72 Z3R05UM
@Z3R05UM, Thank you. It is interesting how ETH lags and then overperforms.
+1 Reply
idz Rule72
@Rule72, Like an envious, greedy lurker? How could that be?
+1 Reply
@idz, ETH has to pay for the extra risk via offering extra reward and BTC is still the base that all is dependent upon. Thanks for your support through commenting, idz.
Reply
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