Here's the long-term Elliott wave count since we broke the giant triangle of cyclical wave 4. Now we are riding a cyclical wave V that should show a serious decoupling between Ethereum and Bitcoin. I expect both to rise, but for ETH to decouple three times the ETH/BTC ratio from its last month low. This means that this might prove to be the most feverish altcoin season ever! I have two bullish scenarios: the first scenario is that the cyclical wave 5 does a truncation (see worst case line) and the second scenario, the cyclical wave 5 would go all the way to reach the dynamic resistance aroud 0.15 or slightly higher (see best case line).
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.