firstly, as expected and written in the last post, two things happened. BTC resumed its rise and the ETHBTC continued its decline. So we can say that ETH went into the shadow of BTC yet once again.
Secondly, one expectation isn’t fulfilled yet. Namely that we break the ATH in ETHUSD and ETHEUR.
So this is what the author is still expecting to take place.
But as we are in the shadow of BTC, what is going on there? Here is the long-term chart (the subscribers of this blog see it from time to time):
As you can see, we are now most probably in the wave 5, after breaking out of the triangle. How high can it go? Nobody knows. Possible to find it out, based on the Elliott Waves? Hardly. The wave 5 in crypto tends to be (as in commodity) the most crazy and often extended one. So it’s really difficult to predict where the craziness will stop. However, we have another tool to predict the trend change. Namely sentiment. The author doesn’t follow as much as before the forums and chat rooms. However, even with this little time it should be enough to notice when the crowd will become unreasonable again. Stay tuned for it. It will definitely happen.
Let the BTC craziness not to overcome the real thing, which is Ethereum. The next big move will happen in ETH.
In the next post the author will finally share the long-term charts, which have been mentioned already several times on these pages. One of the subscribers, by the way, was very on spot with sharing his chart (in a comment to one of the last posts). Good eye!
Enjoy the rest of the weekend and get lucky with your football team. The Germany is playing in several hours and the streets here are already getting very quiet.