Long

ETH/BTC idea

Updated

ETH/BTC idea

Let me know what you guys think. Stay safe!

Trade closed manually

Not seeing the reaction yet I wanted short term. With a nasty eth/usd weekly close in mind I closed manually at 2.7 with a good profit.
Still think the setup is super valid and will relong close to my initial entry.

Note

My bias at this moment: Expecting btc to hold above 10k, ranging between 11-13.8k before making new ath. In this range eth/btc can go to 0.032. right now waiting for btc to stabilize.

Note

Clearly sold to early. Should have taken profits and let the rest run instead. My bias is still that this is a bull market and bitcoin wil bounce from a 30-40% correction. At this very moment it is close to done retracing.
That means it will probably pump back up while btc/ratios will go down. Might give us a new entry. No need to rush in a trade. stay safe.

Note

BTC did hold 10k and btc/rations are going down. Seeing such a powerful reaction from btc. My bias now is that this btc will go much higher, maybe even to 16k. I am afraid that this could be death to much alt/btc ratios. Not abandoning this idea yet, but soon if nothing happens.

Note

Got back in to this trade at 0.025 with a very very tight stop at 0.0248. If it doesn't go up from here. Eth will likely capitulate against btc and will bounce strongly from the depths. First capitulation target will be 0.02315.

Note

closed trade again at 0.0263. setup still valid

Note

getting back in this trade very very soon. waiting for bitcoin to touch major resistance.

Note

Obviously eth/btc is in the process of capitulating. No positions taken.

Zane2

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.