Altcoins currently taking a hit relative to BTC. Ethereum almost at its previous cycle's ATH around 1400, nearly testing it before Bitcoin has come this close to its 20k previous ATH.
As usual altcoins take the brunt of the beating, and we clearly see that with ETH vs BTC here. This is a good indication alts have more bleeding to go, at this point it isn't a surprise anymore. My past posts show that I believe a bottom may be close, but not here yet and the fact it is going to take TIME to develop with a long accumulation range.
I might post potential bull divs forming or other potential bottom structures in the meantime, but it does NOT mean I'm immediately jumping into a long position. Just observations and ideas in the meantime as the macro structure plays out. Any bottom at this point should be temporary and retested before we can slow down the pressure imo.
If in doubt, zoom out.
Cheers
V
As usual altcoins take the brunt of the beating, and we clearly see that with ETH vs BTC here. This is a good indication alts have more bleeding to go, at this point it isn't a surprise anymore. My past posts show that I believe a bottom may be close, but not here yet and the fact it is going to take TIME to develop with a long accumulation range.
I might post potential bull divs forming or other potential bottom structures in the meantime, but it does NOT mean I'm immediately jumping into a long position. Just observations and ideas in the meantime as the macro structure plays out. Any bottom at this point should be temporary and retested before we can slow down the pressure imo.
If in doubt, zoom out.
Cheers
V
Vatsik