I accidentally published my last idea related to ETH/USD becasue I thought I would later be able to modify it while saving it to a "drafts"-like tab but clearly Trading View does not work like that.
NB: I used the purple mountain-like tool to show different ETH/USD business cycles. Every "mountain" refers to a complete business cycle.
Anywho, as we can see that the chart tends to trade closely to the baseline (around $276) which I use as a slightly-above-average price of ETH/USD. The cycle before the current tested below the baseline twice. Once after a drop from the ATH ($446) and once after it had broken over the baseline only to fall back below and finally breaking above it (up to $364).
The Cycle
We are currently at the recession of the third ETH/USD business cycle (due to the lack of a better word) - downward slope from previous peak $368). It is pretty hard to tell from here how long it is going to last before the beginning of the expansion of our next and 4th cycle. But I am betting on a +-$200 (or just above $250) which is the trough of our previous cycle (which may sound pretty far-fecthed a dip). But right now I am pretty neutral but I can feel a bullish trend coming soon which will be the begining of the 4th cycle.
I will post another idea based on the inverse correlation of BTC/USD price and ETH/USD which in my opinion will be a better indicator.I accidentally published my last idea related to ETH/USD becasue I thought I would later be able to modify it while saving it to a "drafts"-like tab but clearly Trading View does not work like that.
NB: I used the purple mountain-like tool to show different ETH/USD business cycles. Every "mountain" refers to a complete business cycle.
Anywho, as we can see that the chart tends to trade closely to the baseline (around $276) which I use as a slightly-above-average price of ETH/USD. The cycle before the current tested below the baseline twice. Once after a drop from the ATH ($446) and once after it had broken over the baseline only to fall back below and finally breaking above it (up to $364).
The Cycle
We are currently at the recession of the third ETH/USD business cycle (due to the lack of a better word) - downward slope from previous peak $368). It is pretty hard to tell from here how long it is going to last before the beginning of the expansion of our next and 4th cycle. But I am betting on a +-$200 (or just above $250) which is the trough of our previous cycle (which may sound pretty far-fecthed a dip). But right now I am pretty neutral but I can feel a bullish trend coming soon which will be the begining of the 4th cycle.
I will post another idea based on the inverse correlation of BTC/USD price and ETH/USD which in my opinion will be a better indicator.I accidentally published my last idea related to ETH/USD becasue I thought I would later be able to modify it while saving it to a "drafts"-like tab but clearly Trading View does not work like that.
NB: I used the purple mountain-like tool to show different ETH/USD business cycles. Every "mountain" refers to a complete business cycle.
Anywho, as we can see that the chart tends to trade closely to the baseline (around $276) which I use as a slightly-above-average price of ETH/USD. The cycle before the current tested below the baseline twice. Once after a drop from the ATH ($446) and once after it had broken over the baseline only to fall back below and finally breaking above it (up to $364).
The Cycle
We are currently at the recession of the third ETH/USD business cycle (due to the lack of a better word) - downward slope from previous peak $368). It is pretty hard to tell from here how long it is going to last before the beginning of the expansion of our next and 4th cycle. But I am betting on a +-$200 (or just above $250) which is the trough of our previous cycle (which may sound pretty far-fecthed a dip). But right now I am pretty neutral but I can feel a bullish trend coming so
NB: I used the purple mountain-like tool to show different ETH/USD business cycles. Every "mountain" refers to a complete business cycle.
Anywho, as we can see that the chart tends to trade closely to the baseline (around $276) which I use as a slightly-above-average price of ETH/USD. The cycle before the current tested below the baseline twice. Once after a drop from the ATH ($446) and once after it had broken over the baseline only to fall back below and finally breaking above it (up to $364).
The Cycle
We are currently at the recession of the third ETH/USD business cycle (due to the lack of a better word) - downward slope from previous peak $368). It is pretty hard to tell from here how long it is going to last before the beginning of the expansion of our next and 4th cycle. But I am betting on a +-$200 (or just above $250) which is the trough of our previous cycle (which may sound pretty far-fecthed a dip). But right now I am pretty neutral but I can feel a bullish trend coming soon which will be the begining of the 4th cycle.
I will post another idea based on the inverse correlation of BTC/USD price and ETH/USD which in my opinion will be a better indicator.I accidentally published my last idea related to ETH/USD becasue I thought I would later be able to modify it while saving it to a "drafts"-like tab but clearly Trading View does not work like that.
NB: I used the purple mountain-like tool to show different ETH/USD business cycles. Every "mountain" refers to a complete business cycle.
Anywho, as we can see that the chart tends to trade closely to the baseline (around $276) which I use as a slightly-above-average price of ETH/USD. The cycle before the current tested below the baseline twice. Once after a drop from the ATH ($446) and once after it had broken over the baseline only to fall back below and finally breaking above it (up to $364).
The Cycle
We are currently at the recession of the third ETH/USD business cycle (due to the lack of a better word) - downward slope from previous peak $368). It is pretty hard to tell from here how long it is going to last before the beginning of the expansion of our next and 4th cycle. But I am betting on a +-$200 (or just above $250) which is the trough of our previous cycle (which may sound pretty far-fecthed a dip). But right now I am pretty neutral but I can feel a bullish trend coming soon which will be the begining of the 4th cycle.
I will post another idea based on the inverse correlation of BTC/USD price and ETH/USD which in my opinion will be a better indicator.I accidentally published my last idea related to ETH/USD becasue I thought I would later be able to modify it while saving it to a "drafts"-like tab but clearly Trading View does not work like that.
NB: I used the purple mountain-like tool to show different ETH/USD business cycles. Every "mountain" refers to a complete business cycle.
Anywho, as we can see that the chart tends to trade closely to the baseline (around $276) which I use as a slightly-above-average price of ETH/USD. The cycle before the current tested below the baseline twice. Once after a drop from the ATH ($446) and once after it had broken over the baseline only to fall back below and finally breaking above it (up to $364).
The Cycle
We are currently at the recession of the third ETH/USD business cycle (due to the lack of a better word) - downward slope from previous peak $368). It is pretty hard to tell from here how long it is going to last before the beginning of the expansion of our next and 4th cycle. But I am betting on a +-$200 (or just above $250) which is the trough of our previous cycle (which may sound pretty far-fecthed a dip). But right now I am pretty neutral but I can feel a bullish trend coming so
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