ETHBTC chart is at major resistance... with a second major resistance right above it.
This can mean 2 things:
- Bitcoin starts rising faster than Ethereum from here (today we can experence BTC in the green and ETH in the red)
- Ethereum starts dropping faster than Bitcoin
Most likely the first scenario is on and it makes sense to me that Bitcoin will rise higher (the new hedge, safe haven, finite product, desired by many, including the Big Whales and the Huge Funds),
whereas Ethereum might lose some momentum while it's competitors take a piece of the smart contract pie (Cardano, Polkadot, Solana, Avalanche and many more).
Hello Professor, thanks for all your posts, they are very informative and helpful. Regarding the ETH part of the post: I understand that your idea is that ETH is slowing down and it won't touch its ATH soon like you proposed a couple of days ago. Is this what you mean? I'm confused since my TP is at 4134 and was expecting the target to be reached. Do you think a pullback to the 3840 region or a correction is likely?
CosmoCryptic
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I see a symmetrical triangle forming which more often than not they break out in the previous direction of the trend, also big accummulation in the las two ranges which add local support. what does the @FX_Professor think about this? Many thanks!
FX_Professor
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@Cosmo_D, it's nice and valid :)) nice chart
FX_Professor
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@Cosmo_D, it might reach all time highs it might now, what i meant to say is that I see BTC rising faster than Ethereum now whereas some other altcoins will rise even faster than ethereum..
IF THE MARKET TURNS BEARISH, THEN I SEE ETHEREUM DROP FASTER THAN BTC (sorry for caps)
CosmoCryptic
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@FX_Professor, all clear, thanks for dedicating your time to reply, you are a good man
Felixuber
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Thank you for publishing your charts and ideas, PROFESSOR.
One love
Thank me later