ETH following corrective ABCD
Wanted to put out a longer term perspective to the ETH Price Action during these uncertain times.
Looking at it through a 3D time frame we can see ETH still respecting the general macro trend. The structure has not broken despite BTC falling into a Bear Market (and sending the rest of the ALTS to the floor with it). ETH has begun to show signs it's breaking away from the gravitational pull of BTC. So my theory here is that the largest ALT coin may be the one to take charge in starting our long awaited ALT season.
It hasn't been nice, nor has it been pretty. My gut tells me the Super-cycle is not over yet as the fundamentals are still positive. We are yet to see EIP-1559 and the London hard fork so should everything continue as planned, this could be the big break we look for. BTC's movements still need to be respected though. The horizontal line marking out the 28th October, 2021 is a 'rough' guide for when I'm expecting the final blow to occur for BTC in this Bull Cycle. Use that as you wish.
NFA
Looking at it through a 3D time frame we can see ETH still respecting the general macro trend. The structure has not broken despite BTC falling into a Bear Market (and sending the rest of the ALTS to the floor with it). ETH has begun to show signs it's breaking away from the gravitational pull of BTC. So my theory here is that the largest ALT coin may be the one to take charge in starting our long awaited ALT season.
It hasn't been nice, nor has it been pretty. My gut tells me the Super-cycle is not over yet as the fundamentals are still positive. We are yet to see EIP-1559 and the London hard fork so should everything continue as planned, this could be the big break we look for. BTC's movements still need to be respected though. The horizontal line marking out the 28th October, 2021 is a 'rough' guide for when I'm expecting the final blow to occur for BTC in this Bull Cycle. Use that as you wish.
NFA
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