Massive Drawdown or Rally vs Bitcoin AheadEthereum 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:
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
ETHBTC trade ideas
ETH/BTC Ratio Slumps 30% as Bitcoin Flexes Market MuscleThe Ethereum (ETH) to Bitcoin (BTC) ratio has been on a downward spiral, recently dipping to 0.046 – a level last witnessed in April 2021 and briefly revisited in April 2024. This significant decline underscores Ethereum's current challenges in maintaining its position against Bitcoin's ever-growing dominance within the cryptocurrency market.
Over the past year, the ETHBTC pair has shed an unsettling 30% of its value. Year-to-date losses are also concerning, exceeding 11%. These figures paint a worrying picture for Ethereum, raising questions about its future trajectory and potential to dethrone Bitcoin as the leading cryptocurrency.
Several factors are likely contributing to this trend:
• Bitcoin's Narrative Strength: Bitcoin continues to hold a strong narrative as "digital gold," a scarce, hedge-like asset favored by institutional investors seeking a store of value. This perception fuels its price stability and market dominance, particularly during periods of economic uncertainty.
• Ethereum's Inflationary Concerns: Unlike Bitcoin's capped supply, Ethereum's issuance is not limited. This "inflationary" model has caused anxieties among some investors, who worry about potential price dilution in the long run.
• The Ethereum Merge Looms: The highly anticipated Ethereum merge, transitioning from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism, is still under development. Delays and uncertainties surrounding the merge's impact on Ethereum's scalability and efficiency might be keeping some investors on the sidelines.
• Regulatory Landscape: Regulatory scrutiny surrounding the cryptocurrency market remains a concern. While clarity on regulations could benefit the entire industry in the long run, the current uncertainty might be discouraging some investors from entering the Ethereum market.
• Alternative Layer 1 Blockchains: The emergence of alternative Layer 1 blockchains like Solana and Cardano offering faster transaction speeds and lower fees could be siphoning off some investor interest away from Ethereum.
Is This the End for Ethereum?
The current situation doesn't necessarily signal the end of Ethereum. It's crucial to remember that the cryptocurrency market is still young and highly volatile. Here are some reasons for optimism regarding Ethereum's future:
• The Potential of DeFi: Ethereum remains the dominant platform for Decentralized Finance (DeFi) applications, a rapidly growing sector with immense potential to disrupt traditional financial services. Continued DeFi adoption could significantly boost Ethereum's utility and value.
• The Merge's Promise: A successful merge to PoS could address scalability concerns and enhance Ethereum's environmental sustainability, potentially attracting more environmentally conscious investors.
• Developer Ecosystem Strength: Ethereum boasts a robust and active developer ecosystem constantly innovating and building dApps (decentralized applications) on the platform. This strong developer base is a crucial asset for Ethereum's long-term growth.
Looking Ahead: A Shifting Landscape
The cryptocurrency market is constantly evolving, and the relationship between Bitcoin and Ethereum is likely to remain dynamic. While Bitcoin may retain its "digital gold" status for the foreseeable future, Ethereum's success will hinge on its ability to address scalability issues, deliver on the promises of the merge, and maintain its dominance in the DeFi space.
Investors should carefully consider their risk tolerance and investment goals before making any decisions. Both Bitcoin and Ethereum represent high-risk, high-reward investment opportunities. A diversified portfolio across established and emerging cryptocurrencies might be a prudent approach for navigating the ever-changing digital asset landscape.
Can ETH Outperform BTC?ETHBTC is one of those charts, which can be telling us that volatility is near. Loking at the daily price chart, it can be actually finishing a larger (A)-(B)-(C) correction, currently seen in final stages of the wedge pattern within subwave 5, with ideal swing zone here around channel support line , 0.045 – 0.040 area. So, as we have been talking about for a while, BTC.dominance might slow down and ALTcoins may kick in, so ETH may try to catch Bitcoin soon. Just keep in mind that the first bullish evidence for ETHBTC is only above 0.061 region.
Alarm for ETHBTCIt seems that ETHBTC has lost a static support and a dynamic support and reached 0.04664 from 0.08592 in 5 waves Elliott. I expect an upward corrective ABC patern to 0.05779 (equivalent to a pullback to the lost dynamic trend line) and continue the correction. On the other hand, from the point of view of NDS, all the movement in the weekly time could be the movement of ND and the second negative hook after that was completed on 2022-sep-07. From Ichimoku's point of view, it seems that there is an expectation of further correction in the weekly time. and ETHBTC lost the Important Moving averages
The Eth/Btc Chart No One is Talking AboutI want there to be an altseason, I want a ton of alts to fly to the moon and have a crazy fun time. ETH/BTC has broken under a trendline from 2019, never even managed to make it back to it's 2017 highs in the previous cycle. I don't understand how someone can look at this and not worry for the future of alts tbh
Momenth of truth for ETHBTCI'll try and be as brief as possible in this one.
I believe this to be a pivotal month for ETHBTC.
Either we see a full-fledged no-excuses breakdown confirmed with a weekly close below the last wick on said timeframe, or I will continue to think that a macro low is being formed here.
There is everything you want to see here if you're going to take a bullish stance.
1) Confirmed triple bullish divergence on both 1D and 1W.
2) Fake break of structure with a dip down and then pop back up on the 1W.
3) Chance for a 55EMA and 200EMA death cross fakeout inbound on the 1W.
4) Stochastics ready to go back up on both 1W and 1M.
5) Six months and counting of price action hanging onto the lows without truly breaking down.
6) History of ETHBTC losing value after BTCUSD breaks all-time high, only to go back into an uptrend after a few weeks.
7) BTC.D painting a swing failure on the 1W with a confirmed bearish divergence and rejection of the RSI bullish control zone.
This might get all thrown out of the window tomorrow, but as long as the aforementioned points stand, I'll keep believing that one should exercise maximum caution in being bearish at this time and place.
A weekly close above the 55EMA before it crossed the 200EMA will make me even more of a believer of the bullish case.
If that happens, and ETHBTC can also trade above 0.061, I would have no more reason whatsoever to fear a breakdown, thus absolutely confirming a macro low, and looking for a higher valuation.
Ethereum vs Bitcoin by Rocket Bomb 🚀Hello, friends! 😊Today we're looking at the Ethereum to Bitcoin chart!
As everyone knows, the Ethereum to Bitcoin price indicates how many Bitcoin units are needed to buy one unit of Ethereum. That's an important metric for traders and investors as it reflects the relative strength or weakness of Ethereum compared to Bitcoin in the market.
👀Keeping an eye on this price is useful for making decisions about trading or investing, considering the dynamics of the two largest cryptocurrencies.💥
Today, I've prepared a weekly chart for You to examine the medium to long-term perspective! 💡On the chart, You can see a large number of falling wedges (also known as descending wedges) - a pattern, that signals an upcoming bullish impulse,🚀 which has always happened after the wedges in the history of this pair.
The wedges, that I colored in pink 🩷 had the same slope and consequently the same percentage growth when exiting the wedge, which was about 1000%.
Over time, the cryptocurrency market has gained immense popularity, and the market has become more "weighty," slowing down growth slightly and reducing it in percentage terms!
In 2021 (the wedge became less acute, and growth was about 250%), I colored the wedge in brown 🟤 for clarity!
As for the potential in the coming years, 250% is quite a realistic indicator - but it's too early to talk about it.🤫
🔻In the medium-term perspective, we can also see a slight decline in price - and the completion of the wedge formation, followed by a phase of active growth.🚀
You can see the levels for the medium-term perspective on the chart.🧐It's better to make purchases on price pullbacks, so keep an eye on that!👀
Thank's for Your attention, I hope the information was useful to You. If yes, click 🚀 and subscribe so You don't get lost!🫶
Always sincerely Yours,
Kateryna💙💛
ETHBTC Very Bullish Falling Wedge FakeoutAfter a very ullish run on the ETHBTC pair from 2019 - 2021, ETH has spent nearly the last 3 years consolidating into a falling wedge pattern. This has formed an even bigger Bullish pennant pattern. With a breakout of the falling wedge we'd have about a 13-% gain to the upside.
Locally, price has formed a triple bottom, and formed a Fakeout from the low of the falling wedge. Price has responded with a strong reaction to the upside. With the BTC halving just being finished and the ETH ETF on the way, it is about time for ETH to make its run.
ETH Set to Soar: Alt Season Signals and Technical Analysis
Prepare for #AltSeason with #ETH! Buckle up as ETH aims for $8000 amidst a flurry of bullish signs, especially in ETHBTC. Packed bags? Check. Let's ride this wave! 🚀 Analyzing the charts, we spot a strong bullish divergence on the weekly chart. Plus, a significant trade opportunity awaits at the monthly key level, coinciding with the monthly fair value gap and the 62% Fibonacci level, indicating promising reactions. On the daily chart, a breaker formation is taking shape. Bags full? Let's send it to the moon and hodl tight! #Crypto #Ethereum #TechnicalAnalysis
ETH/BTC very important moment#eth / #btc pair has lost the trend line support with this month's dump and now trying to reclaim the bull triangle. Claiming the trend will be favorable for #ethereum but this is also a bearish retest. If #ethbtc price declines hard here, this will be greatly unfavorable.
Not financial advice.
