TradingView
revorevo
May 4, 2021 12:09 AM

Parabolic Moves dont end well Short

BITSTAMP:ETHUSD1D
Ethereum / U.S. dollarBitstamp

Description

⋅
Eth will be topping out soon enough imho, or at least were due for a bigger correction which will give you alot of cheap alts to buy :)

Slowly building into a lower than 1x lev short on Eth from now on

Comment

⋅
getting close. any low lev short from here on will be profitable imho (no financial advice xD)
Trend AnalysisHarmonic PatternsChart Patterns
Comments
revorevo
⋅
hit the sequential 9 on the daily too jesus christ. Combined with those 8 green monthly candels it doesnt have much more upside imho
nzahir
⋅
@revorevo, You think bear market starts soon? Few more days maybe? Then the crash?
revorevo
⋅
@nzahir, its a weird scenario because bitcoin doesnt look like it topped maybe only ethereum and altcoins go a bit lower for now
nzahir
⋅
@revorevo, So you think BTC hasn't topped but Eth has....has never worked that way

Either there will be a total market correction/crash or BTC takes over which will drag up eth and alts, but lower their ratios to btc
revorevo
⋅
@nzahir, in 2017 when bitcoin was rising to its blowofftop eth was falling in value
nzahir
⋅
@revorevo, It was falling in terms of value to BTC, but it was rising in USD

Is that what you meant?

For ex, if eth goes from .07 btc to .05, but btc is now 100k, who cares
revorevo
⋅
@nzahir, this is what i mean. Ethereum was clearly moving sideways and even losing value while bitcoin moved up alot
revorevo
⋅
@revorevo, this is the dollar chart btw so eth was losing value against the dollar
nzahir
⋅
@revorevo, Lol but if you look back a few days or push it a couple days, then its positive vs usd

Eth will rise or slightly lag and then rise if btc rises
revorevo
⋅
@nzahir, nice to see you know what eth will be doing. how about you post your first chart since you joined 3 years ago
More