There are 2 triangle patterns a small one (short term) and a big one (mid long term).
Short term we will probably go down in ETH.
If we hit the 550-400 zone with VERY HIGH VOLUME this will likely be the bottom for ETH.
This will be a good accumulation range (if we hit it on at least 4x the average volume).
This graph doesn't show any side action, but there will be, so we will probably hit the bottom later than mid April.
(Not a financial advice.)
Short term we will probably go down in ETH.
If we hit the 550-400 zone with VERY HIGH VOLUME this will likely be the bottom for ETH.
This will be a good accumulation range (if we hit it on at least 4x the average volume).
This graph doesn't show any side action, but there will be, so we will probably hit the bottom later than mid April.
(Not a financial advice.)
Trade closed: target reached:
We reached the target buy zone with very high volume. However, BTC did not go down so drastically and on so high volume. Which means that there is more downward action expected of BTC.
So there are 2 options.
1. This is a bottom in ETH and BTC and ETH price movement stop being so tightly correlated as they have been lately.
BTC and alts will start moving independently eventually.
I don't think we have reached that stage yet.
2. When BTC goes even further down it takes ETH down too.
The second one is more likely.
So there are 2 options.
1. This is a bottom in ETH and BTC and ETH price movement stop being so tightly correlated as they have been lately.
BTC and alts will start moving independently eventually.
I don't think we have reached that stage yet.
2. When BTC goes even further down it takes ETH down too.
The second one is more likely.