Ethereum - Bitcoin - ETH/BTC Long
ETH/BTC Ratio has bled under .029.
My thoughts on the 3 most probable outcomes:
Bitcoin cools and holds $10,000+. This would be yet another indicator that we are in the early stages of a bull market. If BTC holds between $10,000 - $11,000 on sustained volume, ETH/BTC will likely recover to 0.03+, with short-term targets laddered between the .031-.035. (Subjective analysis: 40% probability.)
Bitcoin continues its parabolic move up. This would likely result in a sustained short-term ETH/BTC bleed, and history dictates that we could see as low as .026 in the near future. (Subjective analysis: 40% probability.)
Bitcoin is strongly rejected. This would be a strong indicator that bulls may be getting ahead of themselves. Dependent on volume and momentum, we could revisit the $7,000 - $8,000 range. The ETH/BTC ratio on this scenario would reflect a struggle between market uncertainty (down) and bargain long-term ETH prices (up). (Subjective analysis: 20% probability.)
Monday's news cycle (crucial) will most likely impact the price in a positive way if BTC holds $10,000. Days continue to count down until the next BTC halving.
Outlook: Short Term: Hesitantly Bullish
Mid Term: Very Bullish
Long Term: Very Bullish
ETH may be oversold for awhile, but I have extreme faith in the ratio mid-term.
My thoughts on the 3 most probable outcomes:
Bitcoin cools and holds $10,000+. This would be yet another indicator that we are in the early stages of a bull market. If BTC holds between $10,000 - $11,000 on sustained volume, ETH/BTC will likely recover to 0.03+, with short-term targets laddered between the .031-.035. (Subjective analysis: 40% probability.)
Bitcoin continues its parabolic move up. This would likely result in a sustained short-term ETH/BTC bleed, and history dictates that we could see as low as .026 in the near future. (Subjective analysis: 40% probability.)
Bitcoin is strongly rejected. This would be a strong indicator that bulls may be getting ahead of themselves. Dependent on volume and momentum, we could revisit the $7,000 - $8,000 range. The ETH/BTC ratio on this scenario would reflect a struggle between market uncertainty (down) and bargain long-term ETH prices (up). (Subjective analysis: 20% probability.)
Monday's news cycle (crucial) will most likely impact the price in a positive way if BTC holds $10,000. Days continue to count down until the next BTC halving.
Outlook: Short Term: Hesitantly Bullish
Mid Term: Very Bullish
Long Term: Very Bullish
ETH may be oversold for awhile, but I have extreme faith in the ratio mid-term.
Komen:
I just want to add that each profit range indicates a potential 5% of stack sale. I do think that .029 is a great long-term entry and do not plan on selling / trading the majority of my coins in a bull market.