This is an interesting phenomenon, the 1 year spreads in BTC prices have now converged. Weekly charts show 
BTC can continue rallying, but it is good to take some precautions, holding equal amounts of 
ETH as a hedge to it.
I'm not sure of the implications of the spread closing like this, but it might affect prices soon. Perhaps it is related to Bitfinex, since spreads closed to the upside to match prices there, despite the problems with USD funding and withdrawals at that exchange.
Interesting to keep an eye on the action from here onwards.
Good luck!
Ivan Labrie.
BTC can continue rallying, but it is good to take some precautions, holding equal amounts of ETH as a hedge to it.I'm not sure of the implications of the spread closing like this, but it might affect prices soon. Perhaps it is related to Bitfinex, since spreads closed to the upside to match prices there, despite the problems with USD funding and withdrawals at that exchange.
Interesting to keep an eye on the action from here onwards.
Good luck!
Ivan Labrie.
Note
There's a chance rally steadily higher all month. For now, holding equal weights in eth and BTC is smart.Note
The spread closing in relative performance since 1 year ago might imply the buying is really strong and we are seeing new inflow of money into this space. I think we can have a big move to the upside after LTC's segwit activation, in BTC.
Note
The action slowed down considerably here in this pair...interesting behavior.I had many signals that suggest we should either hedge some exposure, reduce it, sell BTC altogether and reenter later on, or just watch it to reduce exposure after it tops. I opt for the last one, although I'm entering a few alts, paying with BTC for now.
Note
I am thinking we can see a top here. The weekly trend time is still active, but we exceeded all logical weekly targets, so we can have a correction or consolidation in Bitcoin with any spark.Be it, a flaw with Litecoin's Segwit or something related to the ETF decision, hard to say for now, but I reccomend reducing exposure to only 20% (the long term reccomended BTC stake that you should always keep)
Note
Yep...it begun.
Note
In the next 3 days we could slow down and go back up...it depends on how support levels act.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.