The ETH moved to the expected ranges in the BTC ratio. Two waves. The relationship between them 1,61. The second one looks like very nicely formed 5 waves move (green numbers). While the wave IV made the new high, the volume dropped.
What does it mean in “human language”?
ETH advance to take the place Nr.1 in cryptospace will most likely stop for now. BTC is about to gain some losses back (as ETHBTC ratio will correct down).
In some time we will probably see the “unusual” distribution between BTC, ETH and few other coins where no one could claim the “king of the crypto universe” anymore.
Decentralisation in action..
Regarding the BTC. There are some mounting signs that we might see the top soon too. Spiegel.de wrote recently an article on BTC and they usually do it close to the top. Sometimes shortly before, sometimes shortly thereafter. That was the case with the previous (2013) BTC meteoric rise, also with Gold, Oil, USD or EUR. The story repeats itself constantly. So, if even if BTC manages to break through $2000, cautious is the key.
The real performers, anyway, are currently outside the bigger players.
They are smaller caps, which are easier to “pump” for the big speculators. We see it already now and the trend will only increase over the course of the next months.
Find your way there. Have a nice summer time.
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