Ethereum to shutdown in this bull market?
In the “Alt-coin market preparing for a 10x move” idea (below) it was written:
“A word of warning. The uptrend will not be equal across all alt-tokens”
MATIC, ALGO, LTC to name a few.. as expected not all legacy projects are enjoying the multiple x gains so many in the space have seen.
Ethereum has currently printed a 78% return on the dollar pair since the statement above while others like Solana are up 1200%. In fact many tokens have printed a 10x return since that time. Despite all this the bullish outlook held by Ethereum fans is steadfast as it is loyal.
The bitcoin pair ratio of legacy projects, that includes Ethereum, is a significant reason for knowing why a group of tokens would fail to participate in the current bull market.
On the above monthly chart the Ethereum/Bitcoin (ETH.BTC) pair has confirmed failed support after seven years of uptrend. This is significant. The confirmation was made on the close of March with whole body monthly red candle printing outside the channel.
The bear flag that preceded this breakout forecasts a 80% correction in the ETH.BTC pair.
On the weekly ETH.btc pair (below) a weekly death cross is almost certain to print. Price action on this pair corrected 60% on the last cross in June 2019. You think this time is different?
Ww
Alt-coin market preparing for a 10x move
Weekly ETH.BTC Death cross
“A word of warning. The uptrend will not be equal across all alt-tokens”
MATIC, ALGO, LTC to name a few.. as expected not all legacy projects are enjoying the multiple x gains so many in the space have seen.
Ethereum has currently printed a 78% return on the dollar pair since the statement above while others like Solana are up 1200%. In fact many tokens have printed a 10x return since that time. Despite all this the bullish outlook held by Ethereum fans is steadfast as it is loyal.
The bitcoin pair ratio of legacy projects, that includes Ethereum, is a significant reason for knowing why a group of tokens would fail to participate in the current bull market.
On the above monthly chart the Ethereum/Bitcoin (ETH.BTC) pair has confirmed failed support after seven years of uptrend. This is significant. The confirmation was made on the close of March with whole body monthly red candle printing outside the channel.
The bear flag that preceded this breakout forecasts a 80% correction in the ETH.BTC pair.
On the weekly ETH.btc pair (below) a weekly death cross is almost certain to print. Price action on this pair corrected 60% on the last cross in June 2019. You think this time is different?
Ww
Alt-coin market preparing for a 10x move
Weekly ETH.BTC Death cross
BTC
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR