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

29 Aug 2023 · 1 min

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In this segment, the host from The Art of Crypto analyzes recent market dynamics, describing a sell‑side and buy‑side liquidity sweep that is expected to push Ethereum lower. While noting that Bitcoin and Ethereum exhibit similar behavior, the speaker quantifies Ethereum as the weaker asset at present. A key technical level around $1,880 is highlighted as a target for Bitcoin’s candle body. Based on this assessment, the presenter recommends going long on Bitcoin and shorting Ethereum, arguing that Ethereum’s weakness relative to Bitcoin makes it the better short candidate.

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.