As mentioned in the last idea, ETH was following both the BTC & ETH 2017 fractals.
I was betting on the BTC fractal which would put the cycle top around 20k+.
However, that fractal is broken and ETH continues to follow its 2017 fractal, which puts the cycle top around 13k.
Expecting ETH to go much lower from here.
Cycle top anywhere between December 2021 and February 2022.
Off course it won't follow the fractal perfectly, but for now, the 2017 ETH fractal holds and it shows more downside before anything else.
Would not want to hold any ALTS in this period either.
If we continue to follow 2017, BTC Will take over the lead and ALTS will lag behind for a while.
I was betting on the BTC fractal which would put the cycle top around 20k+.
However, that fractal is broken and ETH continues to follow its 2017 fractal, which puts the cycle top around 13k.
Expecting ETH to go much lower from here.
Cycle top anywhere between December 2021 and February 2022.
Off course it won't follow the fractal perfectly, but for now, the 2017 ETH fractal holds and it shows more downside before anything else.
Would not want to hold any ALTS in this period either.
If we continue to follow 2017, BTC Will take over the lead and ALTS will lag behind for a while.
Note
Idea is invalidated if we reclaim WO around 3.9kNote
Watching closely here, ETH reaching a make or break point.Note
ETH reclaimed both the monthly open + 0.5 fib of the drop down. As long as we keep above, we have a chance to break this fractal.
Note
The counter argument: If ETH/BTC break red line, I think we get a strong run up.
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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.