The basis of ETH to $4250 by the end of February 2021.
In TA, we quantify the Greed by measuring all in percentage scale, thats why we use log-scale.
The market seems to have transformed BTC and ETH to be twin assets (Metcalfe's law, Pal 2020)
If you see the ascending triangle before breaking out on both assets, the tail of BTC's triangle is 23% which results in 100% raised that reach the 132.8% Fibo extension level.
It must be noted that the 100% and 0% levels in this chart are $19990 (ATH 2017) and $3192 (lowest between 2018-present).
The tail of ETH triangle is 55% (Double of BTC's triangle). The tail of the triangle measured the GREED of impatient bulls which can results in 200% raised to reach the 132.8% Fibo. extension level.
It must be noted that 100% and 0% levels in this chart are $1420 (ATH 2018) and $81 (lowest between 2018-present).
My point is never to limit the potential gains because we are in price discovery mode where all the bulls (institution and retails FOMO) can drive price parabolically.
Click the like button and share if you like, but it is not a financial advice.
The market seems to have transformed BTC and ETH to be twin assets (Metcalfe's law, Pal 2020)
If you see the ascending triangle before breaking out on both assets, the tail of BTC's triangle is 23% which results in 100% raised that reach the 132.8% Fibo extension level.
It must be noted that the 100% and 0% levels in this chart are $19990 (ATH 2017) and $3192 (lowest between 2018-present).
The tail of ETH triangle is 55% (Double of BTC's triangle). The tail of the triangle measured the GREED of impatient bulls which can results in 200% raised to reach the 132.8% Fibo. extension level.
It must be noted that 100% and 0% levels in this chart are $1420 (ATH 2018) and $81 (lowest between 2018-present).
My point is never to limit the potential gains because we are in price discovery mode where all the bulls (institution and retails FOMO) can drive price parabolically.
Click the like button and share if you like, but it is not a financial advice.