ETH Rise During Bitcoin Downtrend
Updated
It has become clear in recent times that the Bitcoin and Ethereum prices directly correlate with each other. Whales are constantly pumping one while they dump the other; rinse and repeat. Therefore as Bitcoin is now completing the final shoulder of the IH&S, ETH will pump up to potential new highs.
Note
Squeeze is coming in on the 4h timeframe and Bitcoin has done a U-turn, so Ethereum is now heading down. A candle close outside of the 4h bands will pretty much confirm a short, although I flipped my trade earlier this morning when I flipped my BTC trade. If it breaks the support line, the next point of resistance is about 39, and then 23 USD.Trade closed manually
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