ETH/USD VS BTC/USD. Follow the leader. LONG ETH

Just another quick one. BTC had been leading this recent push & ALT/BTC pairs have been bleeding profusely. BTC consolidated from AUG - OCT while ETH has spent an extra month in the range before breaking to the upside. when BTC broke this range It ran for the following 5 weeks... Are we about the see the same from Ethereum? Check the linked Idea for more Bull Porn

Key points:

• BTC has made an amazing push towards the ATHs
  
• ETH has been lagging
  
• ETH has broken out
  
• Looking at the similarities of the charts, it looks like ETH is about to have a 160% run over the next 5 weeks
  
• A break below the $430 has me out of the market to re assess
  

Never Trust. Verify.
D.Y.O.R. Not Financial Advice, this is my trading journal.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.

Trade stängt: målet nått:

That was a nice Quick 160%, I hope you where in it ;)

Even though this target has now been reached, BTC has continued to run to run so I expect Eth to do the same..

Kommentera:

BTC has tripled since this call.. now ETH is where BTC was before it tripled... 6k ETH incoming?