BTC Dominance/ eth bull market
Updated
Measurement of Eth bull rally to the peak compare to btc dominance chart; attempt to time the market.
Looking at the btc D chart, trading between the 7 years zone (38% - 80% roughly). Seeing a average 44% drop in the zone can result in eth all time highs.
Looking at Eth price action, the second time btc D dropped by 44% eth rallied, eth broke last cycle ath, and made new ath. Volume did not come in until btc D rsi reach below 50 line, which are are below 50 line rn.
If we see the same move repeating, we could see a 8.5K eth confluence with 1.618 fib. I used the mean of both eth rally time range and price percentage while btc D is dropping to find a estimate of the move, which is roughly 70+ days and 60%+ in price. ( The rally can be much more significant) #ethtsunami
Keep in mind, Btc D can still move to the upside of the range before making the drop.
Please let me know what you guys think, share your thoughts with me!
Looking at the btc D chart, trading between the 7 years zone (38% - 80% roughly). Seeing a average 44% drop in the zone can result in eth all time highs.
Looking at Eth price action, the second time btc D dropped by 44% eth rallied, eth broke last cycle ath, and made new ath. Volume did not come in until btc D rsi reach below 50 line, which are are below 50 line rn.
If we see the same move repeating, we could see a 8.5K eth confluence with 1.618 fib. I used the mean of both eth rally time range and price percentage while btc D is dropping to find a estimate of the move, which is roughly 70+ days and 60%+ in price. ( The rally can be much more significant) #ethtsunami
Keep in mind, Btc D can still move to the upside of the range before making the drop.
Please let me know what you guys think, share your thoughts with me!
Trade active
Shit, it wont show data before july.2022... .im sorry Note
This chart is invalidTrade closed: target reached
Fuck how do it delete this lol
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