Ethereum vs Nas 100 lifetime chart. Comparing similarities between the consolidation from early 2016 to 2017 with the current bear market. Both are roughly 75% drawdowns from local peak to bottom.
I don't expect a repeat of 2017, with the timing of the merge we could see this rally sustain a lot longer than most are expecting.
Using rolling local min max 50% cues to compare this cycle vs. 2017. After the next connection with the 50% line which is imminent, I'm looking for a similar break to the upside and potential blow-off top.
Zoomed out view, removing the noise and comparing the 2012-2013 cycle with the current cycle. Short to med term moving averages and weekly momentum have fairly similar structures. You know what came next in 2013! I believe we're set up for an extremely strong run for the remainder of the year. I see some calls for an extended cycle this time around and believe...
Next week is critical to see if we break out of this long term channel. The last several times we have reached this resistance, the reaction has been muted, but the momentum structure in particular is nost most similar to February of 2020 which warrants paying closer attention.