ETH is correlated to btc ,
HARD TIMES FOR ETH
I was very bullish on ETH zith ETH 2.0 nearing , but on eth btc chart it fails to get over the btc resistance zone , the reason why is simple , cause eth was shooting up but the sec did throw some fud again as eth 2.0 could be a security issue , which means no trade zone for most pro usa traders and institutions , a real smack in the face , the only positive thing i can see is if btc pulls off from 8600-8700 and break out to the upside of the triangle , then ETH Will rise aprox 8 usdt max 12 usdt but in BTC value it will loose a lot 8-22 % depending on how high btc will moon , so guys its time to take discussions ....
3 Options in the cards , 1 .sell all your eth for btc 5 option i took now cause rsi is very low on btc sow a rise is very likely ) AND BUY BACK later some etc 20-40% of your btc bags when fud is over or btc is back stable ...
2. if you dont care on btc value sell around 188 or wait until 199 levels and hop out with profits and ride some other alt coin waves
3. be a die hard hodler and keep your eth stash in the hope btc breaks below its triangle and hope fud goes over quickly so eth / btc can move higher
I was very bullish on ETH zith ETH 2.0 nearing , but on eth btc chart it fails to get over the btc resistance zone , the reason why is simple , cause eth was shooting up but the sec did throw some fud again as eth 2.0 could be a security issue , which means no trade zone for most pro usa traders and institutions , a real smack in the face , the only positive thing i can see is if btc pulls off from 8600-8700 and break out to the upside of the triangle , then ETH Will rise aprox 8 usdt max 12 usdt but in BTC value it will loose a lot 8-22 % depending on how high btc will moon , so guys its time to take discussions ....
3 Options in the cards , 1 .sell all your eth for btc 5 option i took now cause rsi is very low on btc sow a rise is very likely ) AND BUY BACK later some etc 20-40% of your btc bags when fud is over or btc is back stable ...
2. if you dont care on btc value sell around 188 or wait until 199 levels and hop out with profits and ride some other alt coin waves
3. be a die hard hodler and keep your eth stash in the hope btc breaks below its triangle and hope fud goes over quickly so eth / btc can move higher
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.