ETHBTC Consolidation - Are we still bullish on ratio?
Ethereum had an incredible run against Bitcoin regarding it's ratio, these are not particularly uncommon but the wider market thought that this run would take it back to 2017 levels of dominance.
I still believe that until Ethereum decouples away from Bitcoin, it's cycles are ultimately dictated by Bitcoin and its price movements, and therefore it's just another alt coin for accumulating Bitcoin and is traded with that in mind.
My trend analysis captured the top of Ethereums ratio rally and now we must identify what the outcome will be after a consolidation, rally to new ratio highs as Bitcoin has lost its 'digital gold' narrative?
Or do we plunge back down and dump harder than Bitcoin in light of the CORVID 19 catalyst and global markets recessing after the biggest economic expansion in history.
I still believe that until Ethereum decouples away from Bitcoin, it's cycles are ultimately dictated by Bitcoin and its price movements, and therefore it's just another alt coin for accumulating Bitcoin and is traded with that in mind.
My trend analysis captured the top of Ethereums ratio rally and now we must identify what the outcome will be after a consolidation, rally to new ratio highs as Bitcoin has lost its 'digital gold' narrative?
Or do we plunge back down and dump harder than Bitcoin in light of the CORVID 19 catalyst and global markets recessing after the biggest economic expansion in history.
Wizard money evangelist 🪄✨
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.