If this ETH rally were to accour in a similar pattern as the last one, this would mean that we are at point 3 now. Therefore, 1-2 weeks of sideways consolidation, until the real runup would start.
This scenario however, can only work if bitcoin does not dump. It must at least stay constant, better yet, rise. Because if bitcoin stays constant, I cannot see ETH going above 2500 USD, the flippening area.
The peak would be reached shortly before the flippening. If however, bitcoin would soon continue to rise towards 20k again, then a figure of 3000+ USD as a peak for ETH does not seem so unlikely.
This scenario however, can only work if bitcoin does not dump. It must at least stay constant, better yet, rise. Because if bitcoin stays constant, I cannot see ETH going above 2500 USD, the flippening area.
The peak would be reached shortly before the flippening. If however, bitcoin would soon continue to rise towards 20k again, then a figure of 3000+ USD as a peak for ETH does not seem so unlikely.
Comment:
Due to the dump of BTC, the end of the ETH bullrun is postponed. The picture does not change however. I still see ETH going above 3000 once BTC starts nearing 20k againg and going above.