Skip to main content

Ethereum Rally?

Oct 14: ETH: As shared last time, ETH is forming bullish head and shoulder and breakout $3700 will push price towards $4000-$4400 in coming days. 

But this jump seems can be due to BTC. If BTC pump we will see same impact on ETH too in USDT pair. But Eth-BTC pair also indicate that eth growth rate will be slow than BTC if BTC pump hard.  But same time don't forget market psychology that eth pump hard once BTC stable at higher price. 
                                           
Be careful with Low/mid cap alts too if BTC pump hard. We all know that ALTS struggle if BTC pump hard in short term. But Pump in BTC always good for market and all mid/low cap coin jump hard once BTC stable.

Must Apply Money/Portfolio management if you are alts trader. Dont sell them in big loss. Alts can try your patience but you will win the race if you apply a strategy for your fav alts for next six month.

Comments

Post a Comment

Popular posts from this blog

Bitcoin takes a major correction! Alts Suffer 🐻

Sep7:Bitcoin give big correction of near $10000 after 48 days of rally from $28000 to $52800. Yesterday BTC gave bullish breakout of $51k but it turn into fake out. As BTC break 50k support today, we saw panic sell on btc. Its most probably due to future Market.   On daily chart BTC have support on $46000 and $44000 and so today candle will be important for btc. If BTC finish above $46000 than market will positive. At the time of writing BTC trading at $47000 after hitting $42843. This can be relief bounce. Market still in panic. We saw in Jan2021 -April 2021 that BTC took time after big quick dump and retest support  again. So a little chance that BTC spend somedays here and retest 42k-43k area. We are in Bull trend till BTC run above MA 50 Day.
Post a Comment
Read more