I set an alert here to monitor this chart, if $ETHBTC were to fall below 0.02405, things could turn from bad to worse in the ratio chart.
I'm currently long $ETHUSD, and waiting to exit in profit, and I think at one point during July we may get a retracement in crypto markets accross the board...I also think $ETHUSD can confirm a monthly uptrend during July, so I will carefully watch how chart patterns and sentiment evolve over time from here onwards. We need to be aware of this trend signal in the monthly ratio chart as well...positioning of crypto portfolios might be better off if there is exposure to $BTCUSD, and not only alts (even though $ETHUSD will likely perform well).
This chart shows the doomsday scenario for altcoin holders, where NO single altcoin beats $BTCUSD ever again...IF this trend signal confirms, odds of that happening will be 70%, for as long as price doesn't go back up, and above the levels specified on chart. USD wise we can make profits in alts, specially in solid ones like $ETHUSD, but they might end up falling short compared to $Bitcoin. Since most people have been stuck on long alt positions since 2017 (where altcoins surged like never before), this chart signal actually working is a very real contrarian scenario.
Keep this in mind...
Best of luck,
Ivan Labrie.
I'm currently long $ETHUSD, and waiting to exit in profit, and I think at one point during July we may get a retracement in crypto markets accross the board...I also think $ETHUSD can confirm a monthly uptrend during July, so I will carefully watch how chart patterns and sentiment evolve over time from here onwards. We need to be aware of this trend signal in the monthly ratio chart as well...positioning of crypto portfolios might be better off if there is exposure to $BTCUSD, and not only alts (even though $ETHUSD will likely perform well).
This chart shows the doomsday scenario for altcoin holders, where NO single altcoin beats $BTCUSD ever again...IF this trend signal confirms, odds of that happening will be 70%, for as long as price doesn't go back up, and above the levels specified on chart. USD wise we can make profits in alts, specially in solid ones like $ETHUSD, but they might end up falling short compared to $Bitcoin. Since most people have been stuck on long alt positions since 2017 (where altcoins surged like never before), this chart signal actually working is a very real contrarian scenario.
Keep this in mind...
Best of luck,
Ivan Labrie.
Comment:
Trade active:
It's on!
It's on!
Comment:
Price is moving lower and lower over time. Very clear down trend.
Comment:
$ETHUSD is a good risk reward long trade here, but, long term signal hasn't yet kicked in, and $ETHXBT is trending down. $BTCUSD has max 13.6:1 risk reward, vs 9.5:1 for $ETHUSD, in the absolutely best case scenario which is lower probability than $BTCUSD's signal. I wouldn't reccomend to buy $ETH or any other coin, $BTCUSD has the highest odds of success in crypto currently. Still, you could leverage long here, using $BTC as collateral, if you were so inclined, but definitely don't try to fade the $ETHBTC trend. It will keep going lower and lower over time.
$ETHUSD is a good risk reward long trade here, but, long term signal hasn't yet kicked in, and $ETHXBT is trending down. $BTCUSD has max 13.6:1 risk reward, vs 9.5:1 for $ETHUSD, in the absolutely best case scenario which is lower probability than $BTCUSD's signal. I wouldn't reccomend to buy $ETH or any other coin, $BTCUSD has the highest odds of success in crypto currently. Still, you could leverage long here, using $BTC as collateral, if you were so inclined, but definitely don't try to fade the $ETHBTC trend. It will keep going lower and lower over time.
Comment:
There's a chance #ETHUSD rallies from this spot from next week onwards...It has formed an 11 week accumulation level and could start a weekly trend:
I'll be monitoring the charts closely. No action for now.
#ETHBTC could have bottomed if it holds up, since it didn't erase the huge monthly candle from early 2017 that kickstarted the alt frenzy back then.
#ETHBTC could have bottomed if it holds up, since it didn't erase the huge monthly candle from early 2017 that kickstarted the alt frenzy back then.
Trade closed manually
Trade active:
Probably good to short again:
Comment:
On track for more downside, ethbtc is inverted btcusd...and btcusd is trending up. This will keep falling and falling...
