ETHBTC impulse final wave is in formation. We first had a rare leading diagonal 12345 ABC zigzag to a top of 1. Followed by a triple three pattern correction to the dip of 2 in WXYXZ subdivided in ABCABCABCWXYABC. The current trend is the bigger wave 3. This trend is currently building the wave 3.
For the more conservative people, it's absolutely possible to take profit 0.25 & 0.5 at :
- 161.8% fibonacci level around 0.06696 BTC/1ETH - 261.8% fibonacci level around 0.09009 BTC/1ETH - 423.6% fibonacci level around 0.12752 BTC/1ETH
Commentaire
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On the log scale, you can see how close we are to the top.
Since ETH2 allow staking and become deflationary since middle of July, there is no more sense to hold BTC. Now ETH and lots of erc20 coins will *always* outperform all ancient coins. Technologically there is no big difference between BTC and Doggy.
Skelisul
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@utilmind, I reply now to say that in a strong bull trend, it makes sense to do the opposite of your feelings. Only if ETH is > (greater than) BTC in terms of marketcap. I don't think ETH will go above 0.161 BTC/1ETH to be number 1 in marketcap. That's why my last target to sell everything is at 0.16. It's riskier to never go to 0.16, than exploding everything instead to the upside.
JJMa
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Quite possible, I am harvesting a bit off of my ETH position into my BTC position in small amounts, but intend to keep a core position on both for the long term. Look forward to reversing course at some point in the future.
Bitcoin-Proselyte
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thanks Skelisul
any chance of going higher than previous ath ? like 0.2 btc ? 0.25 btc ?
Skelisul
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@last.samurai, I don't think it's possible unfortunately. You are talking about 25% of BTC, which is huge. The bitcoin price isn't really going to the upside the next following weeks, that's why the ratio is increasing that fast.