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OSL Trade Idea: 15 OCT 2018Trade idea:
Short ETH/BTC
Entry: 0.033
Stop loss level: 0.0355 (- 7.576 % )
Profit taking level: 0.027 (+ 22.223 %)
Ideal position duration: 2 weeks
Funding cost to borrow ETH: please contact us through your private chat
The ETH/BTC cross has been consolidating for almost 1 month. As per chart, downside of the consolidation triangle broke on Oct 11. Selling the rally towards the upper trend line with a tight stop loss would prove to be the best risk adjusted reward.
Fundamentals
With stock markets across the board taking a dive and the on-going trade war between the US and China, investors tend to sell risk and look for safety. ETH/BTC should continue to trade lower.
ETH is relatively new compared to Bitcoin; its core value of supporting ICO's embed much more risk compared to BTC and it's 10 year history.
The trend between crypto-crosses tend to be more persistent unless some innovative changes happens and there's a sudden shift in the market. Follow the trend with proper risk management.
May trend be your friend. Happy trading!
Jason Fung
Trader
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