So far this chart has been doing exactly what we thought it would to ever since losing that 0.06 level in October.
Imo those impulsive green candles are candles to sell into. I would rather see a decent time capitulation after finding a bottom, followed by a slow and steady grind upwards.
I like trading this as a strategy that's delta neutral in the market. Buy BTC, sell ETH or vice versa.
So even though ETHUSD might go up, my base case is that ETHBTC will keep on bleeding for a while longer, and I'm assuming that it will keep on making lower highs each cycle against BTCUSD.
if we reclaim 0.06 from here, that would confirm a more bullish structure shift and first sign of strength on this pair.
Imo those impulsive green candles are candles to sell into. I would rather see a decent time capitulation after finding a bottom, followed by a slow and steady grind upwards.
I like trading this as a strategy that's delta neutral in the market. Buy BTC, sell ETH or vice versa.
So even though ETHUSD might go up, my base case is that ETHBTC will keep on bleeding for a while longer, and I'm assuming that it will keep on making lower highs each cycle against BTCUSD.
if we reclaim 0.06 from here, that would confirm a more bullish structure shift and first sign of strength on this pair.
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Tealstreet.io Trade Faster & Trade Easier
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
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.