I do not like making short charts but this one needs to be taken seriously. Lets focus on ether's actual value? Ask yourself this question Ether is Valued at $4000 and why? Another question Ether taking market value from BTC is really smart choice? Can ether flip BTC? Ether HAs no limit to supply. It could be minted by miners non stop. This is like governments printing money endlessly. Same thing!
I am one of the first investors in Ether. I always supported since the day one. However except the first few months ether was never able to lead the market. When Btc goes up ,ether goes up! when Btc goes down ether goes down like a good puppet in higher magnitudes. And when ether reaches to new highs , it does not bring publicity like Btc does. But when Btc goes up , it makes it headlines all around the world! You know it for fact so average joe gets excited about crypto currencies. Therefore attracts fresh money.
Now lets take a look at the facts. Lately Ether on Rampage reaching new highs constantly. No significant publicity all. Quite as wisper and silent! So Ether is not attracting new fresh money in the market but instead taking from BTC's market cap and of course some major alts. This action directly effecting BTC and whole market struggling to move up! If this non sense continues and new money chases to enter the market, BTC bound to crash lets say 15%-20%. Do I need to tell what would happen to ether then ? Perhaps then flash crash 25-50%.At that point Ether's miners will sell ether in large chunks and further crash the market. So This is losing game for all and time to allow BTC to grow .Only then ether should continue to grow. Do the math yourself! And Wake up! Ether can not flip BTC or Lead the market alone..... We all played this game. That is how ether crashed from $1800 to $70 in the last rally. Lets not make the same mistake again! This is very greedy dangerous game!
I am one of the first investors in Ether. I always supported since the day one. However except the first few months ether was never able to lead the market. When Btc goes up ,ether goes up! when Btc goes down ether goes down like a good puppet in higher magnitudes. And when ether reaches to new highs , it does not bring publicity like Btc does. But when Btc goes up , it makes it headlines all around the world! You know it for fact so average joe gets excited about crypto currencies. Therefore attracts fresh money.
Now lets take a look at the facts. Lately Ether on Rampage reaching new highs constantly. No significant publicity all. Quite as wisper and silent! So Ether is not attracting new fresh money in the market but instead taking from BTC's market cap and of course some major alts. This action directly effecting BTC and whole market struggling to move up! If this non sense continues and new money chases to enter the market, BTC bound to crash lets say 15%-20%. Do I need to tell what would happen to ether then ? Perhaps then flash crash 25-50%.At that point Ether's miners will sell ether in large chunks and further crash the market. So This is losing game for all and time to allow BTC to grow .Only then ether should continue to grow. Do the math yourself! And Wake up! Ether can not flip BTC or Lead the market alone..... We all played this game. That is how ether crashed from $1800 to $70 in the last rally. Lets not make the same mistake again! This is very greedy dangerous game!
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I was Just saying ! What happen to mighty ether all of a sudden? Not so mighty anymore? Will you keep buying more Ether or Back to BTC? $4200 to $3700 in 20 minutes .next time you won't be as lucky!
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Ether can not and will not flip Btc but BTC can flip your wallet upside down. I hope this was just a good warning! We need to support BTC all together and revive the market again! Perfect time to switch BTC while you still have some funds! I bet Ethereum miners rushing to bring their ethers back to exchanges in a hurry! They love chaos !
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Take a look at this picture. This is what happened after the lass bull run! We did not think this was even remotely possible. That is why BTC must be supported.
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Comparing 2018 to 2021 as a result of greed!
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Think about this for once! Lets say you are stuck in the middle of the barren desert and you only have a camel to ride on(camel represents BTC lifeline in this case) but you are very very hungry(greed). Would you eat your camel to satisfy your hunger then try to walk the rest of the journey with a full stomach or would you cross the desert first by enduring your hunger then eat your first meal at the nearest restaurant after crossing desert . Your camel is the only tool can save your life in the middle of wild wild west land and you will need it for the next journey!
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Ether continues to steal from the bitcoins market! Last chance to stop!
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You can not fix greedy low iq people. I warned you! There you go Still buying ether? Keep buying see how far this will go? You finally succeed to break BTC. If BTC doesn't get back up say good by to your $4000 ether? What is next $500 ether will be good entry? DO you not want to trade anymore? I bet.
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Now are you begging for BTC to stop? Why would it stop? you already killed the camel.
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Perhaps you believe me now. Elon did not cause the crash , Mainly Ether did and other cutu dog faced meme coins. Ether miners did not eve get into action yet! They will hit the next wave down as hard as they can. You may not even get a chance to sell it on the next wave! Buying ether over $4000 without waiting BTC's growth was fatal mistake. Since you killed the camel , you going to have to walk on your own. It will be hot and dry and you will beg for bounce that may or may not happen! I hope you learned a good lesson here! I am telling you this stuff because experience is way more important that bull market TA clowns. Everybody can be good in mega bull market but many can not recognize the top or bottom while we entering bear market.
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We had touchdown to 3k levels and bounce up to 3.5 levels exactly predicted. Now ether needs to go sideways any attempts to break 3.5k without waiting Btc's lead will crash ether further to 2k-2.5k levels. Bitcoin is in big trouble , without it there is no market! So alt coins needs to wait or we all go down together again. Do not get me wrong . I am not Bitcoin maxi. I rarely buy bitcoin but I understand this market well!
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Here we go ether pushed up to 3600 levels then crashed down to 2850 levels. there will be some recovery as long BTC is stable. I strongly suggest buying Btc here first then go back to ether.
I have 3 major reasons for that.
First, If Btc drops lower here , Ether will be absolutely diminished into sand so you will lose a lot more $$$
Second, Since BTC is in oversold zone on daily chart it may take of to 51-52k levels while ether is being stagnant. You can make some $$$ with BTC first and then double down with ether profits on top.
third reason is If Btc is allowed go to next Highs without being disturbed by alt coins , Alt coins like ether also can reach new heights like $5k range but BTC first.
Wishing a good luck! We all need to play team game. Again I am not Bitcoin maxi but Bitcoin is the king of the crypto for a reason because of liquidity for big investors and institutions and global publicity. We need to get average joe's interested again then get back into alts at the correct time.
I have 3 major reasons for that.
First, If Btc drops lower here , Ether will be absolutely diminished into sand so you will lose a lot more $$$
Second, Since BTC is in oversold zone on daily chart it may take of to 51-52k levels while ether is being stagnant. You can make some $$$ with BTC first and then double down with ether profits on top.
third reason is If Btc is allowed go to next Highs without being disturbed by alt coins , Alt coins like ether also can reach new heights like $5k range but BTC first.
Wishing a good luck! We all need to play team game. Again I am not Bitcoin maxi but Bitcoin is the king of the crypto for a reason because of liquidity for big investors and institutions and global publicity. We need to get average joe's interested again then get back into alts at the correct time.
Trade closed: target reached:
I better stop writing. This drop was abnormal. This was far more than what I was expecting. If you still in the trade, keep your chin up! This should get back up.Ether did not deserve to get down $1860 . Not that far!
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Large quantities of ether being moved into exchanges! And vitalik already sold some according few article that I read. As I mentioned Miners may try to dump in large amounts of Ether in times of chaos like this. We are human and we break down eventually !If they follow through with large sales, could result in another meltdown in the market! Lets hope that BTC holds above 30k otherwise This may get pretty ugly out there.