I'm actually looking at Bitcoin for entries to long Ether as I think Ether is going to explode past its all time high soon. But we might get a dip beforehand. Bitcoin is important to watch right now, as Ether is not exactly "uncorrelated" with Bitcoin.
I made this chart as though I were trading Bitcoin, though, as the information contained herein informs my Ether trade more than the Ether chart. The Ether chart has one cause for concern right now...it's hugging the all time high like it wants to break it, BUT there's a bearish divergence on the Relative Strength Index (see my other chart on this) and it makes me pause and wonder if Bitcoin may fulfill this descending triangle it is in. Only time will tell, but I'm strategizing for either a busted triangle or a confirmed one. Either way I plan to make a huge trade here.
All I know is that no matter what happens...once Bitcoin satisfies me that it is back in a bullish uptrend, then I'm longing Ether.
Also, if Bitcoin taps the 21 week exponential moving average (or gets close and bounces), I'm longing Ether. I find it highly unlikely Bitcoin will break down much further than the 21 weekly EMA.
I think this is the lowest risk, highest reward way to play what's occurring in the charts right now.
That's it! Wish me luck as I PATIENTLY wait for this to play out!
Peace, Love, & Crypto,
B166er
Entertainment only, NOT financial advice.
I made this chart as though I were trading Bitcoin, though, as the information contained herein informs my Ether trade more than the Ether chart. The Ether chart has one cause for concern right now...it's hugging the all time high like it wants to break it, BUT there's a bearish divergence on the Relative Strength Index (see my other chart on this) and it makes me pause and wonder if Bitcoin may fulfill this descending triangle it is in. Only time will tell, but I'm strategizing for either a busted triangle or a confirmed one. Either way I plan to make a huge trade here.
All I know is that no matter what happens...once Bitcoin satisfies me that it is back in a bullish uptrend, then I'm longing Ether.
Also, if Bitcoin taps the 21 week exponential moving average (or gets close and bounces), I'm longing Ether. I find it highly unlikely Bitcoin will break down much further than the 21 weekly EMA.
I think this is the lowest risk, highest reward way to play what's occurring in the charts right now.
That's it! Wish me luck as I PATIENTLY wait for this to play out!
Peace, Love, & Crypto,
B166er
Entertainment only, NOT financial advice.
"You didn't come here to make a choice, you've already made it. You're here to try to understand why you made it."
―The Oracle
―The Oracle
