BTC vs ETH: The Jig is Up
Updated
Disclaimer: This is not financial advice, and I do not have training sufficient to give financial advice. This is a hobby, but if you enjoy the chart then leave a like and follow.
The jig is up, buy ETH over BTC this year. BTC had a truncated 5th and is only now going through its Primary cycle's Anger/Despair/Shakeout. ETH on the other hand went through its shakeout 12 September and is now ending its Disbelief phase.
Technicals
BTCUSD (BitMex)
W(A) length = 5224.25
W(B) length = 3506.72 (67% WA)
W(C) length (based on $5200 bottom) = 4746.41 (91% WA)
Bottom TP = $4722.16 (100% WA)
ETHUSD (Bitfinex)
W(A) length = 816.46
W(B) length = 413.46 (51% WA)
W(C) length = 811.68 (99% WA)
Good luck and happy trading. Feedback and comments welcomed. Like this and follow me!
The jig is up, buy ETH over BTC this year. BTC had a truncated 5th and is only now going through its Primary cycle's Anger/Despair/Shakeout. ETH on the other hand went through its shakeout 12 September and is now ending its Disbelief phase.
Technicals
BTCUSD (BitMex)
W(A) length = 5224.25
W(B) length = 3506.72 (67% WA)
W(C) length (based on $5200 bottom) = 4746.41 (91% WA)
Bottom TP = $4722.16 (100% WA)
ETHUSD (Bitfinex)
W(A) length = 816.46
W(B) length = 413.46 (51% WA)
W(C) length = 811.68 (99% WA)
Good luck and happy trading. Feedback and comments welcomed. Like this and follow me!
Note
Nay-sayers have already spoken up about ETH breaking its long-term trend lines. So I made a chart in response. I used Kraken bc it has more historic data. However, on Kraken there was an assault on ETH to break its price causing it to push $6 lower than on other exchanges. Like, follow, and enjoy!Note
To be fair I took a similar look at BTCUSD on BITFINEX (for historic data). Some potential insights were gained. BTCUSD still looks to make gains, though possibly not as much as the ETH log chart suggests, and BTCUSD might not drop below $5400 (BITFINEX). Click to see the full chart.
Note
Was off on bottom TP, though still expect for ETH to pick up more than BTC near term.
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Disclaimer
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