How is our ETH?

Though the author expected small rise to 0.016 before the new drop, it worked a bit differently. We went directly to the new low.

But the ETH is Ok.

Let us see some charts. Today it’s better to start with BTCCNY  (the main trading volume is there, not in BTCUSD).btccnymidterm The pattern is quite clear. We should build two more tops (with one decline in between) and the advance in BTC is done for quite some time (few months at least). There is also a chance that we need only one new top (this alternate count isn’t shown above).

What price level might we reach during this process? This is the question no one can answer now. Only when the crowd will get unreasonable (yet again), will we say “we have the top again”.

And as the crowd gets more and more unreasonable at the moment, combined with almost mirrored chart, gives us the feeling that the ETH is Ok (even though we need a bit more pressure):ethbtcmidtermHere too, one more sequance (recovery + new bottom) and we are done with that nasty and long decline.

So, a bit more patience is what one needs now..

As the last link, here is the adoption rate of SegWit – https://bitcoincore.org/en/segwit_adoption/

Makes sense to observe it. In case it is accepted by the Bitcoin community, there will be a lot of talk about “BTC soft-fork is much better than ETH hard-fork”. Also the perfect news for BTC top and ETH bottom.

Have a nice day and don’t trade too much =)

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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

4 thoughts on “How is our ETH?”

  1. hey ravno, good to see you again. some nice times these days, easy shorts. gotta be careful though.

    personally i don’t think the retrace will go above .015. looking at a ~.0120-.0125 retrace before a final plummet to .008 levels.

    but indeed, patience is most important these days. cheers.

    Like

    1. Hey, Jake, yeah, very busy with our santiment.net platform lately. But I still try to keep you updated on what I see in the crypto markets. The process of building the bottom (in ETH) and top (in BTC) is indeed pretty exciting time. Be careful, however. When I read your lines “I don’t think retrace will go above .015” and also notice that almost no one believes in it at the moment.. You know what my “sentiment” mind is giving as a signal? Hehe, I guess you know. By the way, we have a slack channel when we are (besides working on santiment.net) also share our visions/expectations/news/etc on crypto. If you would like to join, let me know.

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      1. haha. sentiment is indeed very helpful, but you want to be careful of developing stronger confirmation bias as you continue your work with santiment.net (wishing you best of luck btw :))

        i’d be happy to join the slack channel. i think you have my email through the site comments, please send me the invite there.

        Like

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