With BTC struggling to get back over 40k we can assume that Eth is not far behind failing to reclaim 3k territory Eth will be pushed lower and lower as BTC continues to fail its 40k reclaim. Sell pressure on BTCUSD is low around 35k but high at 40k, Being in the realm of 38-39k this would be the upper price channel. If btc fails at these levels we can assume with nearly a 100% confidence that ETH will fallow against the dollar. Setting up a short trade here while BTC is in the upper channel would be good idea. By March 15th assuming the BTCUSD wedge is correct we should see lower 34k levels and maybe lower. Meaning scrape the first short and get ready for another by March 15th as it will most likely break a day or two before hand. This trade should be valid as long as we do not break the EMAs which would cause a divergence thus the SL at those levels.
"Why use USD settlement layer while I can use fake internet money settlement layers"
-KewlKat
"Why use USD settlement layer while I can use fake internet money settlement layers"
-KewlKat
Comment:
Coming into our fill zones niiiice if it comes close to our SL imma adding more contracts but doubt it will push that far as btc is over 40k and i dont see it pushing past 41.2