Ethereum is looking weak when compared to the other cryptos. This is probably due to two main factors: problems of scale already experienced by the network (think crypto kitties) and a ridiculous breakout for its main competitor NEO (the first to recover from the crash). Cardano is also at Ethereum's heals, although a completed platform is still a far ways away. Then there's the dark horse of the platform/decentralized computing coins, Ethereum Classic. Needless to say, Ethereum needs some clear advancements before things start picking back up. That said, should bitcoin break through 12k today or tomorrow, Ethereum will start on a shuffle uphill with a narrow wedge between the dotted white line and the solid green line being the projected path.
There are 4 targets set, each where the green solid line crosses with the retracement lines. Although anything could happen, I don't think any kind of correction is in the cards until the price reaches the 4th target. It's just going to be soooooo long...
There are 4 targets set, each where the green solid line crosses with the retracement lines. Although anything could happen, I don't think any kind of correction is in the cards until the price reaches the 4th target. It's just going to be soooooo long...
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An update on bitcoin:
A pole for a bull flag has formed on the 1hr. The pendant should be created right inside the triangle wedge formed by the two blue lines.
A pole for a bull flag has formed on the 1hr. The pendant should be created right inside the triangle wedge formed by the two blue lines.
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not to state the obvious, but basically, every single crypto is forming or has formed some sort of bull flag...
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holy...
holy...
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If my angle of incline doesn't hold... well, someone's got deep pockets.
So I cleaned up some of the lines on my bitcoin roadmap chart and there is a clear point of intersection between the resistance lines and the dotted green line... obviously, there are two interpretations of this if the timing works out as shown. 1st Bitcoin breaks free of its chains... or 2nd the resistance lines join forces to become even stronger. I'm really scared that it will be the latter, so I will be preparing as we get closer to that point (again, if the timing works out that way), as if the second interpretation will take place.