📌 ridethepig | ETH Breaking Correlation
A good example of a freeing move.
In similar positions, the break can trigger capitulation, since it opens up a test of the pivot level which is already somewhat cramped and is at the same time the appropriate positional response as we see profit taking in BTC help ETH catch up on the wing!
The break in correlation against BTC shows the underlying strength in the foundations of ETH... regulation is knocking at the door; governments will start to weigh heavier on BTC in 2021 than ETH. A +/- $300bn market cap for ETH looks about right in my books.
Thanks as usual for keeping the feedback coming 👍 or 👎
A good example of a freeing move.
In similar positions, the break can trigger capitulation, since it opens up a test of the pivot level which is already somewhat cramped and is at the same time the appropriate positional response as we see profit taking in BTC help ETH catch up on the wing!
The break in correlation against BTC shows the underlying strength in the foundations of ETH... regulation is knocking at the door; governments will start to weigh heavier on BTC in 2021 than ETH. A +/- $300bn market cap for ETH looks about right in my books.
Thanks as usual for keeping the feedback coming 👍 or 👎
