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koryu
Dec 3, 2023 10:47 PM

eth breakout from asc triangle bottom Long

Bitcoin / U. S. DollarKraken

Description

The current ETHUSD weekly is very similar to the BTCUSD daily from the beginning of 2019.
It is likely to follow BTC. Fees on ETH are rising, which creates a positive feedback loop as staking revenue increases.

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also compare with the sol reversal

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ethbtc shows some rebound signals

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approval of btc etfs means higher chance for eth etf approval in may/june. so it's likely that the market will price that in now.

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BTC Dominance had a bear div and a lower high with rsi bear div trendline rejection, indicating momentum shift towards altcoins. Could form a head and shoulders top next. Watching.
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