ETHBTC ready to FALL. No ALT SEASON yet
Updated
1. ETH/BTC has broken the trend line.
2.BTC halving is approaching => liquidity from ETH and alts is shifting into BTC (as seen in previous cycles as well).
3. Support for ETH/BTC lies in the range 0.35 - 0.405 (the red zone).
4. After a consolidation period in the marked red zone, ETH is most likely to appreciate against BTC.
5. Only then can we talk about an ALTSEASON.
2.BTC halving is approaching => liquidity from ETH and alts is shifting into BTC (as seen in previous cycles as well).
3. Support for ETH/BTC lies in the range 0.35 - 0.405 (the red zone).
4. After a consolidation period in the marked red zone, ETH is most likely to appreciate against BTC.
5. Only then can we talk about an ALTSEASON.
Trade active
The target has been reached. I'm long now on ETH/BTC and ETH/USDT
1. We may continue to see declines until mid-December to early January on ETH/BTC and ALTS/BTC (possibly a wick on ETH/BTC down to 0.033), but that would mean trying to catch the bottom, which is often not realistic and ideal.
2. The time has come where we have a suitable area to exchange from BTC to ETH. It may not be the bottom, but the risk/reward is very attractive.
3. ALTSEASON is near. We have a high probability that it will start at the beginning of January 2025. Why?
BTC has made an ATH, BTC dominance has reached 61.3% (it may continue to rise until the end of the year), declines on ETH/BTC are nearing the end after a 2-year downtrend, and most ALTS/BTC are oversold with RSI divergence.
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