Massive Drawdown or Rally vs Bitcoin Ahead
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Ethereum is about to lose most of its value vs. Bitcoin, or gain near equal footing with it instead.
What are the scenarios, and why?
Bear Scenario:
Remain below on any further possible re-tests, expect ETH to lose >90% its value vs BTC
Bull Scenario:
A fake breakdown leading to a breakout at the top of the wedge would target ETH becoming near equal in value to 1 BTC
What are the scenarios, and why?
Bear Scenario:
- Lost a 7.2 year uptrend - failed to reclaim on re-test, failed to touch bottom of trend on re-test.
- 50/200 week MAs Death Cross
Remain below on any further possible re-tests, expect ETH to lose >90% its value vs BTC
Bull Scenario:
- Fake Breakdown - 7.2 year uptrend is reclaimed upon testing the 200 week MA following the death cross.
- This leads to a breakout at the other end of the wedge.
A fake breakdown leading to a breakout at the top of the wedge would target ETH becoming near equal in value to 1 BTC
Commentaire
An alternative | bullish way of looking at this published a while back:
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