ETHBTC - Present Day: Bottom of Cycle, Beginning of Run
ETHBTC is in the gutter.. But the good news is it can't get much worse!
During 2020, we saw a pattern of when ETHBTC topped within its growth channel.
The 1st gap was 150D
The 2nd gap was 200D (1st gap x 1.33)
The 3rd looks to be.. 267D (2nd gap x 1.33) -- WOWOWOW
As we look to see when this next top will happen, we assume that ETHBTC is currently near the very bottom of the growth channel.
It's been stuck in a downward slope for a little bit, but we can determine the bounce angle for that downward to slope to determine the trajectory of the bounce.
From that, I just fit a growth curve to hit each of the previous low candles. Wouldn't you know it, it makes another W. It's like it's a pattern or something.
Even though BTCUSD faces a price correction, and ETHUSD will probably follow with it.. this is a good mid-term buying opportunity.
Ethereum has hit plenty of ATH's in usage rate metrics this year, its ETHBTC has been suppressed while BTCUSD has seen gains of 20% past its previous ATH.
It's only a matter of time before we start seeing some massive gains for Ethereum itself.
I think a .06-.07 ETHBTC by Memorial Day is conservative.. with Bitcoin forecasts pointing to ~30K by then, we'll be looking at 2K ETH by Memorial Day.
Weather this storm and reap the bennies later, time to begin accumulating again!
Don't listen to me. I'm an idiot sandwich. #notfinancialadvice.
EK69420
During 2020, we saw a pattern of when ETHBTC topped within its growth channel.
The 1st gap was 150D
The 2nd gap was 200D (1st gap x 1.33)
The 3rd looks to be.. 267D (2nd gap x 1.33) -- WOWOWOW
As we look to see when this next top will happen, we assume that ETHBTC is currently near the very bottom of the growth channel.
It's been stuck in a downward slope for a little bit, but we can determine the bounce angle for that downward to slope to determine the trajectory of the bounce.
From that, I just fit a growth curve to hit each of the previous low candles. Wouldn't you know it, it makes another W. It's like it's a pattern or something.
Even though BTCUSD faces a price correction, and ETHUSD will probably follow with it.. this is a good mid-term buying opportunity.
Ethereum has hit plenty of ATH's in usage rate metrics this year, its ETHBTC has been suppressed while BTCUSD has seen gains of 20% past its previous ATH.
It's only a matter of time before we start seeing some massive gains for Ethereum itself.
I think a .06-.07 ETHBTC by Memorial Day is conservative.. with Bitcoin forecasts pointing to ~30K by then, we'll be looking at 2K ETH by Memorial Day.
Weather this storm and reap the bennies later, time to begin accumulating again!
Don't listen to me. I'm an idiot sandwich. #notfinancialadvice.
EK69420
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