Maybe it's just me, but I've got a bad feeling we are going to see significantly lower before higher across the cryptoshpere. ETHBTC has been a decent gauge of how alts perform over the past couple of months. That cross is just breaking below major support over the past few days and that level just happens to be the 61.8% retrace of the big move up inn ETH since December.
I can see a 30% decline in ETH relative to BTC and that for sure will bring down most alts and put a ~20% dent in BTC/USD. I will be parking most of my trading budget in cash for now and reassess once the dust settles. Good luck guys.
I can see a 30% decline in ETH relative to BTC and that for sure will bring down most alts and put a ~20% dent in BTC/USD. I will be parking most of my trading budget in cash for now and reassess once the dust settles. Good luck guys.
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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.