ETHBTC - Present Day: Bottom of Cycle, Beginning of Run
ETHBTC is in the gutter.. But the good news is it can't get much worse!
During 2020, we saw a pattern of when ETHBTC topped within its growth channel.
The 1st gap was 150D
The 2nd gap was 200D (1st gap x 1.33)
The 3rd looks to be.. 267D (2nd gap x 1.33) -- WOWOWOW
As we look to see when this next top will happen, we assume that ETHBTC is currently near the very bottom of the growth channel.
It's been stuck in a downward slope for a little bit, but we can determine the bounce angle for that downward to slope to determine the trajectory of the bounce.
From that, I just fit a growth curve to hit each of the previous low candles. Wouldn't you know it, it makes another W. It's like it's a pattern or something.
Even though BTCUSD faces a price correction, and ETHUSD will probably follow with it.. this is a good mid-term buying opportunity.
Ethereum has hit plenty of ATH's in usage rate metrics this year, its ETHBTC has been suppressed while BTCUSD has seen gains of 20% past its previous ATH.
It's only a matter of time before we start seeing some massive gains for Ethereum itself.
I think a .06-.07 ETHBTC by Memorial Day is conservative.. with Bitcoin forecasts pointing to ~$30K by then, we'll be looking at $2K ETH by Memorial Day.
Weather this storm and reap the bennies later, time to begin accumulating again!
Don't listen to me. I'm an idiot sandwich. #notfinancialadvice.
EK69420
During 2020, we saw a pattern of when ETHBTC topped within its growth channel.
The 1st gap was 150D
The 2nd gap was 200D (1st gap x 1.33)
The 3rd looks to be.. 267D (2nd gap x 1.33) -- WOWOWOW
As we look to see when this next top will happen, we assume that ETHBTC is currently near the very bottom of the growth channel.
It's been stuck in a downward slope for a little bit, but we can determine the bounce angle for that downward to slope to determine the trajectory of the bounce.
From that, I just fit a growth curve to hit each of the previous low candles. Wouldn't you know it, it makes another W. It's like it's a pattern or something.
Even though BTCUSD faces a price correction, and ETHUSD will probably follow with it.. this is a good mid-term buying opportunity.
Ethereum has hit plenty of ATH's in usage rate metrics this year, its ETHBTC has been suppressed while BTCUSD has seen gains of 20% past its previous ATH.
It's only a matter of time before we start seeing some massive gains for Ethereum itself.
I think a .06-.07 ETHBTC by Memorial Day is conservative.. with Bitcoin forecasts pointing to ~$30K by then, we'll be looking at $2K ETH by Memorial Day.
Weather this storm and reap the bennies later, time to begin accumulating again!
Don't listen to me. I'm an idiot sandwich. #notfinancialadvice.
EK69420
