RichiRichi
做多

Will history repeat itself? Is ETH Michael or Lucifer?

COINBASE:ETHUSD   以太坊/美元
ETH might be accumulating here, fear for major Bitcoin             corrections provides the ideal momentum to do so.
All other fundamentals look amazing right now, ETH is waiting for BTC             to give the green light.

- Enter 295; or hidden buys just above 300
- Stop below 290

I realize that the larger ABCDE's are banter and not actual EW, I was just trying to find patterns.


--- This is my view, no financial advice, and I have little to no TA experience.


Spread those wings, feel the air flow underneath...
评论: Closed around break-even, because BTC is not looking healthy.

Following play is active:

- Small hand in hidden orders above 300
- Playing any bounce around 278, or even 255-260 level.

Eyes on the king.
评论: BTC might be forming a triangle wave for correction starting October 12.
The latter would mean that wave 5 is still ahead. Hence, ETH's confidence.

Trade automatically activated at 301 while I was having my winter sleep.
交易开始: Looking good, been placing buy and sell orders at these resistance and support levels as ETH is taking its time.

Here are two more ETH ideas, comes down to the same thing; long.

&
 
交易手动结束: Yesterday I traded most of my ETH for BTC, planning on adding again afterwards. Sadly ETH is taking a shit as ETH BTC is clearly in a heavy bear market.

Why does this matter? ETH is currently 44% BTC, meaning that as soon as BTC goes up BTC flows out of ETH as it provides more profitability.
Also, there are many ETH/BTC longs underwater about to be liquidated (if they haven't already).

Lastly, BTC looks like at the end of its distribution phase, if it does have a correction then it will be massive and ETH will most likely be torn down into a frenzy sell too.

It seems like ETH can't win, confirmation of large BTC waves ahead + sideways is the only thing that will make ETH turn bull again.

- Entering again when BTC enters its B wave, I can already smell the news referring to BTC as a bubble, fraud and Myspace; while ETH is Facebook with corporate alliance backing it. --- Be ready boys. ; or

- My BTC count is wrong, it continues bullish, stabilizes sideways with only minor corrections; in this case, I'd add ETH after a 311 or 322 breakout.
评论: Hmm, while I wrote this it went down 8 USD already. It could possibly squeeze and bounce some around these levels as soon as BTC takes a rest.

Unlikely, but may the Lightbringer have one last rebellion.
交易手动结束: Last throwback to my first chart, Michael after all; spread em wings!
Great work, your hypothesis is just about to be tested, anxious to see how it resolves!
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