With a clear mind, but with tears in my eyes I made a update of the Ethos (BQX) chart.
**This is my opinion and this has nothing to do with the project, because I got nothing but love for this project, vision and the all-star team behind Ethos. And with some things it isn't always about the price.
01. Yesterday started off as a good day and we could clearly see that Ethos (BQX) was forming the "inverse Head and shoulder" chart pattern. With two attempts for a break-out. The Bulls couldn't turn the tide. What resulted in a sell off. Now the Bears got the Bulls not by the horns, but by the balls!
02. Ethos (BQX) is now trading below the last low of 0.000315 and next stop will be probably be around the 0,000265. We can't call this a strong support, but the fib-retracement 0,786 from ATL (All Time High) and ATH (All Time High) can definitely be a good support, but still don't forget Bitcoin!
03. Like I already said multiple times. Bitcoin "The Father of all Coins" is sadly always leading the way and that way is messy, bloody and very red. After last BTC low of $6000,- Bitcoin markt dominance was around 34%, since that bottom the markt dominance has been growing to 43% ( atw ). What can we conclude out off that? That the money is flowing out of the alt-coins harder than from BTC and that also reflects in Ethos (BQX) -10% in 24 hours against BTC -7% ( atw ).
With a clear mind and from a TA stand point: I'm gonna keep it short. It doesn't look good for the "price" of Ethos.
With my hearth and with my love for Ethos: A project that good, a vision that great, a team so dedicated and focused, a community that strong and committed. Ethos will definitely get there, maybe not with the price some want, but that's not related to the project, vision and goal.
With that said, I will be focusing myself on BTC and we shall see where that road will be leading.
With lots of Love,
ThinkCrypto - "Charts don't show prices, but emotions and actions from people. Luckily people are predictable!"