Ethereum looking to retest its long term resistant trend line from February 2018.
Edge-to-edge play on the doubled value Ichimoku daily cloud. Converges with resistance which has proved to be a stopping point in the past, the 200D EMA.
A future retest could very well prove unsuccessful and thus reverse Ethereum into a bullish trend.
Laying out what it may mean if this recent bitcoin run is a double zig-zag with a flat X corrective wave.
I see us at least re-testing the 2017 lows if we begin to roll over here near the previous highs.
Clearly, the previous wave is over, the only question now is whether we are going to further correct, likely sideways, or if we are going to begin our next wave now.
Also, something interesting is that the C wave was nearly exactly a 1.618 extension of the A wave.
Anything lower than 190 and I think we retest 160.
BTC crabbing, big fundamental news coming soon for the alt scene. ETH hardfork, eth 2.0, etc. Exciting times, for sure. If you want to get in on alts, i would do it now rather than later. look at how few candles it took to wipe out BTC dominance in previous alt runs.
Bitcoin's market dominance has clearly been in a downtrend for the past few years, looks like that trend is likely to continue unless we see major developments followed by a blast through the previous cyclical high