With BTC stealing the show (see below my idea), Ethereum continues to bounce around this pennant. However, we are approaching the apex of this formation and we should breakout from this range before the end of the month.
Bitcoin is sucking all the money from the crypto market due to its current bullish move. ETH and altcoins will have to fight for the left-overs or at least until BTC decides to take a break and leave some cash for altcoins.
There are really two scenarios:
1. BTC explodes and all market follows, including alts, showing that speculation and risk taking appetite increases, with many alts, including ETH doing a new ATH at that point.
2. BTC continues to pump while altcoins and ETH wane and move side-ways... as soon as BTC takes a break, altcoins explode as money flows back from BTC to altcoins.
For now we are in scenario two. Seems most of the love and money is going to the only coin that matters, Bitcoin. :) But don't be discouraged, ETH will continue to perform very well, just be patient.
Like and follow if you liked this idea!
Bitcoin is sucking all the money from the crypto market due to its current bullish move. ETH and altcoins will have to fight for the left-overs or at least until BTC decides to take a break and leave some cash for altcoins.
There are really two scenarios:
1. BTC explodes and all market follows, including alts, showing that speculation and risk taking appetite increases, with many alts, including ETH doing a new ATH at that point.
2. BTC continues to pump while altcoins and ETH wane and move side-ways... as soon as BTC takes a break, altcoins explode as money flows back from BTC to altcoins.
For now we are in scenario two. Seems most of the love and money is going to the only coin that matters, Bitcoin. :) But don't be discouraged, ETH will continue to perform very well, just be patient.
Like and follow if you liked this idea!
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.