Watching ETHBTC for a Double Bottom (Hidden Bullish Divergence)Introduction
We are in the initial stages of seeing if ETH can set a "higher low" double bottom on the monthly chart. The first low was set September 2019 so this has been a multi year pattern. It might be playing out over several crpyot cycles to completion.
Simple Price Analysis
For a valid d
ETHBTC: Ethereum to gain massively against Bitcoin.Ethereum is overbought on its 1D technical outlook (RSI = 72.854, MACD = 228.230, ADX = 38.542) due to the rebound it initiated last week. Even though it is still on its very early stages, this rebound and statement of its strength is better viewed on the ETHBTC pair against Bitcoin. As you can see,
ETH vs BTC, Trend shift?📝 After months of underperformance, we're finally seeing some relative strength from ETH vs BTC.
📍ETH/BTC has bounced off a key historical support zone — a level that previously marked major reversals in the cycle.
📈 While the bounce is still in early stages, it breaks the streak of lower lows and
ETH/BTC Macro Setup — Capitulation or Generational Buy?🧠 Analyzing the ETHBTC pair on the weekly timeframe, we’re potentially witnessing the final leg (Wave 5️⃣) of a massive Elliott Wave correction, aligning with historical reversal zones.
🔢 Wave Count Breakdown:
1️⃣ Initial crash from the 2017 cycle top.
2️⃣ Relief rally in 2018 (classic lower high).
ETHBTCFrom the general view of the chart, we see that there has been a corrective rise in the Fibo ratio, which is a natural percentage for correction, and then a re-fall to a new bottom, unless the top of the area shown above is broken, in which case this analysis will fail.
*In principle, I am not a sup
ETH/BTC Retest of 2019 BottomSometimes all it takes is zooming out to look at the obvious support and resistance levels. ETH/BTC have been trading at this 2019 low for a couple of weeks now. It was more likely than not that we'd see the pump we are seeing over the last 2 days. Keep that in mind next time!
ETHBTC – Bottom Likely In!Finally stepping in to say it—ETHBTC has likely bottomed.
April marked the final month of its bearish phase, and it just tapped the impulse zone from the last major move, which also lines up with a key range low we haven’t seen since December 2019.
The weekly is starting to show early signs of str
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Displays a symbol's price movements over previous years to identify recurring trends.