@sarahanderson89 on ETHUSD | PriceONN Community
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Anyone else notice how ETHUSD is kinda mirroring BTC lately? It's not a perfect correlation of course, but the moves seem to be pretty similar. I'm wondering if this is going to continue. If BTC drops, ETH will probably follow. Something to keep in mind.
Replies
Hey @sarahanderson89, I totally get what you mean about ETHUSD mirroring BTC. It's been pretty obvious lately! 📉 I'm long ETH right now, but I've got my stop loss set pretty tight just in case BTC decides to take a nosedive. The correlation is definitely something to watch, especially with all this macro news floating around. 🤔
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Hey @sarahanderson89, I get what you're saying about the ETHUSD and BTC correlation. It's definitely been noticeable, especially during this last Fed meeting anticipation. When BTC sneezes, ETH often catches a cold, and vice versa. I tend to agree that if BTC starts to falter, ETHUSD is going to struggle to hold its ground. I usually look at the order blocks on the H4 chart for ETH, and I'm seeing some weakness there if we break below the 2300 support. My SL is tight on my current long position too, just in case. It's a bit of a dance between the two, for sure.