🧠 Analyzing the ETHBTC pair on the weekly timeframe, we’re potentially witnessing the final leg (Wave 5️⃣) of a massive Elliott Wave correction, aligning with historical reversal zones.
🔢 Wave Count Breakdown:
1️⃣ Initial crash from the 2017 cycle top.
2️⃣ Relief rally in 2018 (classic lower high).
3️⃣ Double-bottom accumulation near 0.017.
4️⃣ Blow-off top and 2021 euphoria.
5️⃣ Current leg — possible final flush to 0.013–0.010 zone.
⸻
📍 Key Zones to Watch:
• Immediate resistance at 0.030–0.034 — expect rejection here if price can’t break with volume.
• Target accumulation zone: 0.01348 to 0.01050 (Order Block from 2019).
• Ultimate fear zone: 0.00520 — a true black swan but unlikely unless BTC dominance spikes hard.
💥 Potential Scenarios:
🟢 Bullish Reversal: Price sweeps the lows, reclaims 0.013+, and begins a multi-year ETH outperformance.
🔴 Bear Continuation: Breakdown below 0.0060 = ETH underperformance for the foreseeable future.
⸻
💬 What It Means:
This is a macro opportunity. ETHBTC near 0.013 has historically signaled powerful altcoin seasons. We’re watching for:
• Bullish divergence.
• Structural reclaim above local resistance.
• Confirmed wave 5 completion.
📉 Current Price: 0.0252
📅 Timeframe: Weekly
🧠 Sentiment: Accumulate with caution — risk-reward is setting up favorably for long-term ETH believers.
🔢 Wave Count Breakdown:
1️⃣ Initial crash from the 2017 cycle top.
2️⃣ Relief rally in 2018 (classic lower high).
3️⃣ Double-bottom accumulation near 0.017.
4️⃣ Blow-off top and 2021 euphoria.
5️⃣ Current leg — possible final flush to 0.013–0.010 zone.
⸻
📍 Key Zones to Watch:
• Immediate resistance at 0.030–0.034 — expect rejection here if price can’t break with volume.
• Target accumulation zone: 0.01348 to 0.01050 (Order Block from 2019).
• Ultimate fear zone: 0.00520 — a true black swan but unlikely unless BTC dominance spikes hard.
💥 Potential Scenarios:
🟢 Bullish Reversal: Price sweeps the lows, reclaims 0.013+, and begins a multi-year ETH outperformance.
🔴 Bear Continuation: Breakdown below 0.0060 = ETH underperformance for the foreseeable future.
⸻
💬 What It Means:
This is a macro opportunity. ETHBTC near 0.013 has historically signaled powerful altcoin seasons. We’re watching for:
• Bullish divergence.
• Structural reclaim above local resistance.
• Confirmed wave 5 completion.
📉 Current Price: 0.0252
📅 Timeframe: Weekly
🧠 Sentiment: Accumulate with caution — risk-reward is setting up favorably for long-term ETH believers.
Disclaimer
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.
Disclaimer
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.