Hello, Skyrexians!
It's not a top secret that Bitcoin dominance is about to finish the uptrend and it can give the second life to
ETHUSDT . We have already seen the bounce, but now asset is struggling to break through $2600. We can really see small correction in the upcoming week, but finally uptrend has been already confirmed.
Let's take a look at the weekly chart. I marked the Elliott waves structure for you and in my opinion now price is printing the wave 3. At the bottom there was a green dot on Bullish/Bearish Reversal Bar Indicator [Skyrexio] which is huge confirmation of the bull run. The target for wave 3 is 1.61 Fibonacci at $6500. Anyway, please take into account the second scenario, when BTC dominance will reach 67% and ETH will retest the low (wave 5 in C). Now I have 50/50 probability, but anyway if you bought alts at the 65.3% dominance your deposit will not suffer significantly.
Best regards,
Ivan Skyrexio
___________________________________________________________
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It's not a top secret that Bitcoin dominance is about to finish the uptrend and it can give the second life to
ETHUSDT . We have already seen the bounce, but now asset is struggling to break through $2600. We can really see small correction in the upcoming week, but finally uptrend has been already confirmed.Let's take a look at the weekly chart. I marked the Elliott waves structure for you and in my opinion now price is printing the wave 3. At the bottom there was a green dot on Bullish/Bearish Reversal Bar Indicator [Skyrexio] which is huge confirmation of the bull run. The target for wave 3 is 1.61 Fibonacci at $6500. Anyway, please take into account the second scenario, when BTC dominance will reach 67% and ETH will retest the low (wave 5 in C). Now I have 50/50 probability, but anyway if you bought alts at the 65.3% dominance your deposit will not suffer significantly.
Best regards,
Ivan Skyrexio
___________________________________________________________
Please, boost this article and subscribe our page if you like analysis!
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Access private PineScript strategies and turn alerts into orders with easy-to-set up bots
Trade smarter with:
skyrexio.com
Trade smarter with:
skyrexio.com
Related publications
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.