Finally, we have been watching the ETH/BTC spread closely, and witness a price run up from .035 to just above .04 over the last few weeks. Fundamentally, we have expressed our view on this spread almost a month ago:
[BitOoda thoughts on Ethereum 12/7/2018:
We mentioned in our 12/17/2018 Morning Summary that while Ethereum was in a bear market with other crypto-assets it is in a more mature stage than Bitcoin. That made us look at a relative value trade of ETH/BTC pair. Coincidentally, the ratio made a 0.026 low just as we were writing the commentary. There are a lot of historical highs and lows in the 0.026-0.03 range that seem to provide a support/resistance level. The pair has rallied significantly in a short period of time to 0.035 generating a nearly 35% return in a matter of days.
We believe that to a trader who is constructive on the space there is still a lot of room to the upside with 0.05 level providing the first significant resistance.
A more cautious approach would be to wait for a retest of the 0.026 level before getting long the pair.
This is a lower beta way of getting long a crypto-recovery with most of the broader marketpace risk hedged away. ]
After this weekends price action, this could be a decent entry point start accumulating a position
[BitOoda thoughts on Ethereum 12/7/2018:
We mentioned in our 12/17/2018 Morning Summary that while Ethereum was in a bear market with other crypto-assets it is in a more mature stage than Bitcoin. That made us look at a relative value trade of ETH/BTC pair. Coincidentally, the ratio made a 0.026 low just as we were writing the commentary. There are a lot of historical highs and lows in the 0.026-0.03 range that seem to provide a support/resistance level. The pair has rallied significantly in a short period of time to 0.035 generating a nearly 35% return in a matter of days.
We believe that to a trader who is constructive on the space there is still a lot of room to the upside with 0.05 level providing the first significant resistance.
A more cautious approach would be to wait for a retest of the 0.026 level before getting long the pair.
This is a lower beta way of getting long a crypto-recovery with most of the broader marketpace risk hedged away. ]
After this weekends price action, this could be a decent entry point start accumulating a position
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.