I'm thinking we reached the bottom of the correction in both 
BTCUSD and $ETHUSD. It's interesting to note that 
ETHEREUM is acting very strong, with the ETHBTC ratio moving up on the day, as ETHUSD moves up faster than BTCUSD today, not the norm for a long time.
My clients and me are long from the very bottom, and if this was not a bottom yet, downside risk is very small.
I expect a rally towards 7400 at least, before going sideways until January, or, perhaps a larger rally towards 8462 or 9112, to then consolidate there for a couple months...
Cheers,
Ivan Labrie.
BTCUSD and $ETHUSD. It's interesting to note that ETHEREUM is acting very strong, with the ETHBTC ratio moving up on the day, as ETHUSD moves up faster than BTCUSD today, not the norm for a long time.My clients and me are long from the very bottom, and if this was not a bottom yet, downside risk is very small.
I expect a rally towards 7400 at least, before going sideways until January, or, perhaps a larger rally towards 8462 or 9112, to then consolidate there for a couple months...
Cheers,
Ivan Labrie.
Note
Options sellers won (call buyers didn't manage to push price over 8k or 10k, but not for lack of trying, since clearly price DID go higher into the expiration), #BTCUSD stays sideways since call buyers' attempt at protecting their positions failed Note
IF #ETHUSD bottomed, and that is a big IF, I wouldn't be shocked to see a rally like this take place: Note
Sideways it is...see cyan line for my guess, would be a good basing pattern.
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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.