Let me explain... The ADABTC pair (for example) shows still more bearish potential (Potential for going down more). The only way for this to occur... I say again, "The ONLY way for this to occur is for the following:
BTCUSD to go up MORE (percentage wize) than ADAUSD
-OR-
BTCUSD and ADAUSD to both go down BUT ADAUSD go down MORE (percentage wize) than BTCUSD; in order for ADABTC to go DOWN.
-OR-
BTCUSD to go UP while ADAUSD remains the same (goes sideways).
This same logic can be applied to other Alt-Coin/Bitcoin Pairs...
BTCUSD to go up MORE (percentage wize) than ADAUSD
-OR-
BTCUSD and ADAUSD to both go down BUT ADAUSD go down MORE (percentage wize) than BTCUSD; in order for ADABTC to go DOWN.
-OR-
BTCUSD to go UP while ADAUSD remains the same (goes sideways).
This same logic can be applied to other Alt-Coin/Bitcoin Pairs...
Note
UPDATE:Someone asked what indicators I'm using in the comments. I'm posting that here in the following video in case others are wondering...
Setting Up Indicators in Multi-Chart Window for Multiple Groups
Note
UPDATE:It would be a good start for potential reversal if the Blue LSMA in the 30-minute time frame (top left hand corner) would go above Level 50 along with the Red RSI. Then follow suit in the 1hr. 90min. 2hr. etc...
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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.