You can prise BTC as much as you want, it does rule the whole crypto market (today), but right now, at this particular BTC/ETH ratio, there is simply no room left for Ethereum to fall any further! It is at the all-time bottom now!
If it does, it basically means that the general public states "f..ck blockchain technology altogether"! This cannot possibly be the...
- The "Critical Support Line" WILL be reached and the price WILL bounce off of it.
- The faster this line is approached, the higher the chances for it to break
- The next support line is some $3,500, which is the bottom established at the beginning of the year 2019, followed by the $250 range which was the year + long term bottom during 2015.
My bet is on...
The Red Arrow is where our "big-shot" market manipulators are "taking" the price next, to then make another attempt to sparkle a run-up.
This is especially more likely to happen if we see more $100 ml Tether IOU batches being printed out.
Things may not get there if meanwhile, something else more "interesting" happens, something that may divert people's attention....
The likelihood of the price touching the support line marked as "Support to watch" and (!!!) at least a minimal bounce off of it, is very high in my opinion. So, in the short term, both short and long trades can be plan accordingly.
