Bitcoin Strong Ethereum Weak The Bold Analysis You Need #trading #bitcoin #cryptocurrencytrading

29 Aug 2023 · 1 min

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In this market commentary, the speaker analyzes recent liquidity dynamics, describing a sell‑side/buy‑side liquidity sweep that is pushing Ethereum lower relative to Bitcoin. He notes that while both assets show similar patterns, Ethereum appears weaker, failing to reclaim a key technical level around $1,880. Based on this assessment, he recommends taking a long position in Bitcoin and a short position in Ethereum, positioning Bitcoin as the stronger asset and Ethereum as the weaker one in the current market context.

Chapters

In fact, this is just a sell side, buy side liquidity sweep that is looking to throw Ethereum even lower. So overall, Ethereum and Bitcoin does look kind of similar. But if I could put a number on which one is weaker, Ethereum definitely looks weaker than Bitcoin at the moment. It's pretty much similar to Bitcoin in the sense that you want to get a candle body close above $1,880. Now that Bitcoin is out of the way, let's get into Ethereum. I talked about this last week. We did not get it. We didn't even come back to $1,880. If I had to pick something to go long, I would definitely pick Bitcoin. And if I would pick something to short, I would definitely choose Ethereum just because it is looking weaker than Bitcoin.