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 32 points move to the downside in the zone can result in eth all time highs; plz ignore the percentage on the btc D and look at the points.
Looking at Eth price action, the second time btc D dropped by 32% 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; not showed.
If we see the same move repeating, we could see a 11K eth confluence with 2.618 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 230%+ 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. Therefore, the timing of the peak of bull market is difficult be timed, but we know we might see #ethtsunami in the next couple of months.
Please let me know what you guys think, share your thoughts with me!
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.