rolflobker

ETHBTC potential bullish scenario

Long
BINANCE:ETHBTC   Ethereum / Bitcoin
If BTCUSD plays nicely, ETHUSD might see 0.056 again, in case BTCUSD also becomes bullish ETHUSD could give bigger profits.
But for BTCUSD I currently expect a short term drop, back to $3000, after maybe a small push up to $3800.
I expect BTCUSD to reach around $2900 for a nice bear trap, killing al current Longs before it can make a move higher potentially to $5000 in the coming months.
Even though I think ETH is a shitcoin; I could still give nice profits. I'd like to see Ethereum decoupled from BTC and dropping hard (to sub $45) before I will become really bullish on BTCUSD though.

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.