The similarities between these 2 charts are pretty overt. I've been following this for about a year and a half, posting the progress on my twitter thing. It seems like a cyclical fractal for bitcoin's sidekick basically. Litecoin was the main alt back then and now Ethereum is so it is going through the same motions now.
It obviously makes sense to look at the proportions in comparison. Based on the initial breakout to the initial breakdown and then that breakdown to the top. It implies that Ethereum may be about to make a move that could top around February.
This all depends on ETHBTC breaking above .023. That should be the signal for this move to commence with a target around .08-.09. Depending on what bitcoin does that could imply an ETHUSD price of 600-900? Maybe it takes longer than February, maybe it waits a while to break .023 but the similarities are pretty fascinating. We'll see what happens.
Nobody else has these BTC-E charts lol.
It obviously makes sense to look at the proportions in comparison. Based on the initial breakout to the initial breakdown and then that breakdown to the top. It implies that Ethereum may be about to make a move that could top around February.
This all depends on ETHBTC breaking above .023. That should be the signal for this move to commence with a target around .08-.09. Depending on what bitcoin does that could imply an ETHUSD price of 600-900? Maybe it takes longer than February, maybe it waits a while to break .023 but the similarities are pretty fascinating. We'll see what happens.
Nobody else has these BTC-E charts lol.
액티브 트레이드:
ETHBTC is >.023. Idea is in motion
액티브 트레이드:
Ethereum/BTC is looking very bullish here. I think this consolidation is ready to level up. I still maintain the original target.
코멘트:
ETHBTC looks ready to move higher again. Same inverse head and shoulders formation as late 2016. Whenever I run the numbers, a "600-900$" target like I mentioned comes out to being around .06-.07. The .086 target in this chart would require something like 1200$ I think. So I won't be surprised if it doesn't tag this target exactly, but I'm def open to the possibility of course. We'll see...