$ETH support-line breached, down we go!
This pennant will be a bit longer than some may have hoped. The more optimistic (assuming, you're holding) support-line did not stand the weight of ETH's losses, and it will continue to go down as BTC continues to stabilize at 7,000.
I will continue to update this, so follow me for the latest on ETH and ETHBTC
I will continue to update this, so follow me for the latest on ETH and ETHBTC
Note
Closer look Note
Still going down. The big push town might come when we have our long awaited BTC bull-run. For several months, the declines in ETHBTC ratio have come from people panic-buying in which people sold their ETH in a panic to buy cheap BTC. In the BTC-bull run I'm talking about we may move into a Panic-Buy situation in which people are selling ETH to buy a rapidly growing BTC. That effect can snowball since more and more people will look at a big red candle stick of a declining ETHBTC and want to get out to wait out the storm.
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Disclaimer
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.