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ETH-BTC

Another Overlay "Exposing the Schematic"A very quick video, showing a Wyckoff distribution schematic (update from the last post). We have covered these in the streams with @Paul_Varcoe Another stream later on BTC at 15:30 UK time today. www.tradingview.com With Elon's tweet pushing the price of BTC down - it's now at the lower band of the Wyckoff structure (overlaid) in this post. Some more confusion and fear to drive lower for sure! I also posted yesterday some more educational content on why people are hooked on crypto. See linked ideas. Will be updating this as the schematic unfolds. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDShort
by Mayfair_Ventures
15
ETH/BTC pair showing signs of revival, ETH's turn to thrive nextWe see that in the 1 week timeframe the Ethereum/Bitcoin pair has come down to the weekly 100 SMA last candle and now we have a strong bounce off of that line. Phoenix Ascending is showing initial sign of a momentum swing back upwards in the 5-7D scale. The white energy in the 3D TF is currently very high with the green line trailing behind and below. This is usually how it goes when we experience a gradual uptick in price (in this case the ETH/BTC ratio) coming off of a correction. What would likely play out from here on out is a potential stair-stepping up in this local area for a potential run off to a higher high in a long term bull trend. ALT/BTC for any altcoin is a very important pair to look at when we do an analysis of that particular altcoin, because unlike in any other markets for any other stocks/pairs, there is a high correlation between altcoins and bitcoin. The ALT/BTC pair is a lifeline to any altcoin itself: when the ALT/BTC pair isn't ready to go up yet and is still in correction phase, it doesn't matter if BTC pumps because we know that ALT won't be going anywhere on its own in spite of BTC's pump; if anything, when BTC dumps, the ALTs are going dump like heavy rainstorm when the ALT/BTC pairs are slumping. If the ALT/BTC pairs are ready to move, then we have a case for what we usually call an "altcoin season". As I have gradually come to realize, the ALT/BTC pair has a life of its own, and when we are doing an analysis on an altcoin (and in this case ETH), the altcoin's fate is determined to a large extent by the ratio of ALT/BTC. What we are seeing here is that the ETH/BTC pair is giving signs that it could be beginning to reverse out of this current episode of correction. If ETH/BTC is ready to pump, then ETH itself could really thrive in the foreseeable future. This is not about ignoring ETHUSD pair itself; we already know that ETHUSD has climbed out of its mid-term correction here and already started moving. The question here is if ETHUSD is really ready to go up than be dragged up by BTC, and I think in the mid to long term, the answer is yes when ETHBTC is showing us signs it's moving back up.
Long
by Popovich