Ethereum (ETHBTC) Three Years Long Correction EndsGood morning my fellow Cryptocurrency trader, I hope you are having a wonderful day.
ETHBTC (Ethereum) is now reaching the end of a major, long-term correction, a bear-market. This pair peaked the week of 6-December 2021 and several weeks ago it bottomed. Support was found exactly at the 0.786 Fib. retracement level in relation to the bullish wave that took place between September 2019 and December 2021.
The week that produced the bear-market bottom, 18-November, ended as a Doji (reversal signal) and closed green. The following week was full green and this leads us to present time which is a continuation and green session as well.
The Doji can signal reversal when it shows up at the end of a trend. This reversal is only confirmed by what happens after the signal shows up. We have bullish action after this Doji making it a confirmed reversal signal.
It is not only ETHBTC but other related pairs are doing the same. We can expect long-term growth now, something similar to September 2019-December 2021. We will see this pair growing with Bitcoin and/or against Bitcoin, doesn't matter; it is set to grow long-term.
When Bitcoin goes sideways, it grows.
When Bitcoin retraces it grows.
When Bitcoin goes up, it grows.
The bottom is in.
ETHBTC will produce higher highs and higher lows.
Thank you for reading.
Namaste.
