ETH/BTC correlation for the 4.618 is based on the correlation on the ETH/USD chart - My final take profit is obviously the correlation item.
It will be nearly impossible, Marketcap wise, for ETH to go higher than 1T, at the blow off top.
BTC and ETH Yearly low test from January 2023 - both fit the drawdown PA with targets at the respective FIB positions.
The confluence is interesting and might (if plays out) give us an indication between the volatility between the assets, considering that the correction to the estimated point of interest of BTC is 32K (~15% dd) and ETH is 2150 (~7% dd).
Realistic target considering that the PA of the token loves to play out on trading patterns - target may very on Pole length, used conservative calculation - DCA out imo but long pocket a few, project is legit.
Using historic data, the 1.618 seems to attract next target high and target low could be the 300 MA (prior .618 cycle support - ~14K.
#BTC #BITCOIN #TRADING #DCA #BULLISH #BEARISH #TECHNICAL #TA
#CRYPTO
- Price Action == to determine the direction of your trade.
- Indicators == confirm strength of move
- R:R == Get paid, Get out.
- end.
#risingwedge #bearish #settingup #Bullish #BTC #Bitcoin
Possible top reached across markets - We get another
leg down, then we enter the mania phase which leads into
the Next Bull market. The chart has
confluence with others that
I will post
SOON.
