Third time ETHBTC triangle nukes and moons
ETHBTC has formed and broken out of a descending triangle 3 times. The last two times it completed the pattern we had a ~60% drop into a double bottom, BTC gained and ETHUSD droped.
11th Sep 15 - 16th Oct 15 (40d)
BTCUSD gained 25%
ETHUSD dropped 70%, then gained 4200%
ETHBTC dropped 70%, then gained 2200%
27th Oct 16 - 23rd Dec 16 (60d)
BTCUSD gained 35%
ETHUSD dropped 50%, then gained 2200%
ETHBTC dropped 50%, then gained 2000%
Prior and after these periods ETHUSD and BTCUSD where synced even if one outperformed the other. But during the periods above ETHUSD had an inverse relationship with BTC .
13th May 19 - (+90d?)
BTCUSD at 20k is a 50% gain.
ETHUSD drop of 45% would put it at bear market breakout level $175
ETHBTC drop of 60% gives 0.01-0.013, a 2000% gain would give 0.2
The worrisome thing is that today is one the first day days that ETHUSD is red while BTCUSD prints money. An inverse close today might confirm a ETHUSD drop to $175. If not then ETHBTC won't go lower than -30% or BTCUSD will just blast past 20k.
Eitherway, it's not the time to hold ETH, but soon.
11th Sep 15 - 16th Oct 15 (40d)
BTCUSD gained 25%
ETHUSD dropped 70%, then gained 4200%
ETHBTC dropped 70%, then gained 2200%
27th Oct 16 - 23rd Dec 16 (60d)
BTCUSD gained 35%
ETHUSD dropped 50%, then gained 2200%
ETHBTC dropped 50%, then gained 2000%
Prior and after these periods ETHUSD and BTCUSD where synced even if one outperformed the other. But during the periods above ETHUSD had an inverse relationship with BTC .
13th May 19 - (+90d?)
BTCUSD at 20k is a 50% gain.
ETHUSD drop of 45% would put it at bear market breakout level $175
ETHBTC drop of 60% gives 0.01-0.013, a 2000% gain would give 0.2
The worrisome thing is that today is one the first day days that ETHUSD is red while BTCUSD prints money. An inverse close today might confirm a ETHUSD drop to $175. If not then ETHBTC won't go lower than -30% or BTCUSD will just blast past 20k.
Eitherway, it's not the time to hold ETH, but soon.
