ETHUSD, not so bright a future
Updated
Please profit well from this trade and fund my education... Grateful if you do...
I had already published a trade where in I had marked ETHUSD to fall about to USD 150 which is very much on cards. But this chart is quite independent of USD prices which Bitcoin is impacted by.
There can be two meanings of this:
1. Bitcoin may rise quicker than ETH (ratio) to keep ETH at USD 150 and the head and shoulder pattern complete
2. Bitcoin may remain crack a little, and ETH falls only 66% from current levels towards 103
I had already published a trade where in I had marked ETHUSD to fall about to USD 150 which is very much on cards. But this chart is quite independent of USD prices which Bitcoin is impacted by.
There can be two meanings of this:
1. Bitcoin may rise quicker than ETH (ratio) to keep ETH at USD 150 and the head and shoulder pattern complete
2. Bitcoin may remain crack a little, and ETH falls only 66% from current levels towards 103
Note
This chart leads me to believe that the "freak" trades were not all that freak... They may actually be following the trend lines. If the freak trades are considered mainstream, then the above prophecy seems already met and we may be in a correction to the corrective. In other words, getting ready for the next move up. The possibility of this although is too less.
Note
Is anyone following this thread? No answers = No further updates on this thread!Note
This followed point 1 properly... Reached USD 136, and then in the rise, it further did base bottom by going lower. FANTASTIC!Note
The last week has been a great time to learn the formula ETHUSD=ETHBTC*BTCUSDAs suggested many times, first the BTCUSD would rise, while ETHBTC corrects. Then ETHBTC would begin rising to keep ETHUSD stable and end correction.
Viola, what movements! Someone please give me a medal! ;)
Trade closed: target reached
Related publications
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.