ETH Following BTC Pattern Analysis
I know, I know, you may have heard ETH following BTC's pattern. So, I set out to see where ETH might be in this pattern.
Validations:
-ETH at previous ATH similar behavior to BTC at previous ATH
-BTC pattern can be drawn similar to ETH in the blue paintbrush
-MACD of BTC looking similar to ETH's MACD
-The Fib-Retracement looking to touch the same area on ETH as it did for BTC
-Fib Bollinger Bands, with ohlc3 or ohlc4
-On BTC, it touched one band away from the middle(the purple one)
-On ETH, the pattern and Fib-Retracement have it put at that second band, one away from the middle
-ETH has similar dips to BTC on this pattern
Inconsistencies:
-ETH appears to have a bit different behavior so the price range may vary
-ETH MAs appear to be different, 25MA cutting very quickly through 50MA and 200MA
-BTC MAs in this area never did that
On this second leg for BTC, it went on for 10 days, decreasing around 9%-10% before ascending higher. For ETH, if it takes 10 days, similar to BTC, it will validate the Fib BB, Fib Retracement, and pattern analysis. The price point before taking off and ascending would be around the 1600 area. BTC for this move did around a 250% increase to the current ATH, that being around 56700 or whatever it is. If ETH pulls 250% increase that equals to 1 ETH = $5193. This would bring DeFi to new highs and Alts would continue as well.
As always, DYOR & DD. Not financial advice.
Validations:
-ETH at previous ATH similar behavior to BTC at previous ATH
-BTC pattern can be drawn similar to ETH in the blue paintbrush
-MACD of BTC looking similar to ETH's MACD
-The Fib-Retracement looking to touch the same area on ETH as it did for BTC
-Fib Bollinger Bands, with ohlc3 or ohlc4
-On BTC, it touched one band away from the middle(the purple one)
-On ETH, the pattern and Fib-Retracement have it put at that second band, one away from the middle
-ETH has similar dips to BTC on this pattern
Inconsistencies:
-ETH appears to have a bit different behavior so the price range may vary
-ETH MAs appear to be different, 25MA cutting very quickly through 50MA and 200MA
-BTC MAs in this area never did that
On this second leg for BTC, it went on for 10 days, decreasing around 9%-10% before ascending higher. For ETH, if it takes 10 days, similar to BTC, it will validate the Fib BB, Fib Retracement, and pattern analysis. The price point before taking off and ascending would be around the 1600 area. BTC for this move did around a 250% increase to the current ATH, that being around 56700 or whatever it is. If ETH pulls 250% increase that equals to 1 ETH = $5193. This would bring DeFi to new highs and Alts would continue as well.
As always, DYOR & DD. Not financial advice.
Related publications
Disclaimer
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.