Welcome to this quick update, everyone.
ETH broke out of the 995 days Long Resistance.
I believe 140% pump is incoming.
Just look at the chart it simply looks bullish.
CMP is .0495 and it can easily go from 0.10 BTC to 0.15 BTC in the next few months.
This chart will be invalidated only after a close below 0.037 BTC WHICH SEEMS HIGHLY UNLIKELY.
The first ETH...
The fear index increased excessively in btc. I said Elon musk big bear. Still valid.
Ethereum's big bear is Vitalik.
It is extremely risky. It is very risky. You may lose all your money. If you're going to enter 2x-3x. It is not investment advice.
Fibonacci levels are valid. Do not neglect to buy TP. Earn less, always earn. plenty of earnings.
Chart shows further drop.
We will hedge here in this house : Buy BTC and Sell ETHUSD
it worekd very nicely before and we see it will work again now!
Look at our previous ideas for more info on how to hedge.
Wishing you the best
In our previous we explained 'why and how' to hedg e (Buy Bitcoin/Sell Ethereum) and as you probably understand it's going really well.
I said it is going, not it didn't go, simply because that plan is still on.
ETHBTC drop looks like it's still in the beginning.
Ethereum is the weakest link at this stage, for reasons we explained just a few days ago; ...
Ethereum vs Bitcoin ratio seems to be declining. Our chart actually shows we could a expect a drop as big as 32%...
That means that Bitcoin can start rising faster than Ethereum.
Or that Ethereum can start dropping faster than Bitcoin
Or the perfect scenario that Bitcoin rises and Ethereum drops.
How do we use such info?
Well, we can hedge: Buy BTC / Sell ETH 😉
Broadening Wedge with a clear 12345 structure completed
Further upward into the wedge is likely and a bullish breakout upwards out will occur, much similar to that had occurred to the smaller broadening wedge within.
Haven't sold too much on the way up, collected some sats. Again, looking to buy more ETH Cheaper for less Sats. Have been selling small amounts. I'm think both ETH and BTC will be going down a bit more, possibly Alts will start to go nuts if this were to happen, both BTC and ETH will probably dip to allow this to happen, and then when many people have been...
As you can see, its broken a key support trend line.
It seems on the weekly we still have more downward pressure and in my opinion, the next level is here with a possible reversal.
As per my chart, I have the ABCDE spanning wedge confirmed and there are 2 levels...I think this is the next target.
Note the bearish signs on the weekly indicators...they...
Consolidation breakout: lower low below support (now turned to resistance imo)
Cosolidation = H&S in this case. But me personnaly don't like such an obvious cliche. Better call it consolidation simply.