The Q1 test pump in ETH's 2017 bull cycle created a new ATH, surpassing the previous one by 55%. The subsequent run increased this new ATH by a further 170%. If we transpose these percentages onto the current ATH we get a test pump top of ~0.24BTC, followed by a quite insane run to 0.65BTC. This would be almost 20X from here, not so crazy when you consider previous crypto bull gains.
I had hoped that overlaying the 2016 consolidation fractal would match these percentage values nicely; I couldn't get it to line up with 0.24/0.65 but what it did match a bit too well, is support / resistance zones of the previous pumps.
I had hoped that overlaying the 2016 consolidation fractal would match these percentage values nicely; I couldn't get it to line up with 0.24/0.65 but what it did match a bit too well, is support / resistance zones of the previous pumps.
Note
Just realised I put 2020 instead of 2021, oh well
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.