- it seems eth/btc has, with this current daily rejection, just confirmed a macro breakdown of more than two year long macro range (picture in comments)
- the implication of this is significant: since btc dominance to btc correlation has been positive, a sharp move down of eth/btc implies a strong upside move of btc dominance which in turn (due to positive correlation) implies that BTC is going to viciously move to the upside
- final target of this upcoming move is anywhere between 42 and 48k
- the implication of this is significant: since btc dominance to btc correlation has been positive, a sharp move down of eth/btc implies a strong upside move of btc dominance which in turn (due to positive correlation) implies that BTC is going to viciously move to the upside
- final target of this upcoming move is anywhere between 42 and 48k
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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.