TorchBay

TorchBay Updated 

I don't know about you, but this looks like a massive slow moving bubble waiting to pop. No different looking than a bitcoin bubble but at a longer time scale. Economic corrections stopped being allowed after the great recession of 2008 and this is showing the inevitable consequence.

TorchBay Updated 

If we want to go by the four year cycle theory, based on historical tops it looks like Ethereum could top at around $8.34k - $8.85k by fourth quarter 2025 or first quarter of 2026.

TorchBay

The 2 week chart above shows a simple trend analysis using the RSI. As you can see, the RSI in this time frame has proved to show a top for each 4 year bubble cycle all the way back to 2013. There's no real way to know exactly when this will happen, but if you monitor this time frame and wait for the RSI to reach closer to the top of the yellow trend line, we...

TorchBay Updated 

It's amazing how the charts for #Ethereum look so similar between 2017 and today. I still believe that this last extended drop we are recovering from was the 'first big drop' in this cycle with much more upside to come. I'm thinking that we will be forming a massive ascending triangle before more upside by testing the previous ATH at around 4-4.3k then...

TorchBay Updated 

Comparing todays 4hr chart vs 2017's "First big drop" chart. Look at the similarities. Today's RSI is not as strong as in 2017's, but still expecting a bull continuation by the monthly close. Waiting for the 50/200 MA cross before long confirmation.

TorchBay

Will the death cross happen?

TorchBay

Comparing 2017's first big drop to todays current drop. In 2017, there were 6 weeks of downward price action before it started recovering on the 7th week. Also in 2017, ETH dropped a total of 67% and we currently have dropped a total of 60%. Currently we are in our 5th week of downturn price action, I'm thinking by the end of the month we start seeing a...