Ethereum vs Bitcoin by Rocket Bomb 🚀Hello, friends! 😊Today we're looking at the Ethereum to Bitcoin chart!
As everyone knows, the Ethereum to Bitcoin price indicates how many Bitcoin units are needed to buy one unit of Ethereum. That's an important metric for traders and investors as it reflects the relative strength or weakness of Ethereum compared to Bitcoin in the market.
👀Keeping an eye on this price is useful for making decisions about trading or investing, considering the dynamics of the two largest cryptocurrencies.💥
Today, I've prepared a weekly chart for You to examine the medium to long-term perspective! 💡On the chart, You can see a large number of falling wedges (also known as descending wedges) - a pattern, that signals an upcoming bullish impulse,🚀 which has always happened after the wedges in the history of this pair.
The wedges, that I colored in pink 🩷 had the same slope and consequently the same percentage growth when exiting the wedge, which was about 1000%.
Over time, the cryptocurrency market has gained immense popularity, and the market has become more "weighty," slowing down growth slightly and reducing it in percentage terms!
In 2021 (the wedge became less acute, and growth was about 250%), I colored the wedge in brown 🟤 for clarity!
As for the potential in the coming years, 250% is quite a realistic indicator - but it's too early to talk about it.🤫
🔻In the medium-term perspective, we can also see a slight decline in price - and the completion of the wedge formation, followed by a phase of active growth.🚀
You can see the levels for the medium-term perspective on the chart.🧐It's better to make purchases on price pullbacks, so keep an eye on that!👀
Thank's for Your attention, I hope the information was useful to You. If yes, click 🚀 and subscribe so You don't get lost!🫶
Always sincerely Yours,
Kateryna💙💛
