Plotting BTC until March :-) Moonboys are rubbing their hands
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We are still in the doubt area, when we reach the first seloff/realistic area , expectations will go down and doubt will be the game again, it's not unlikely that optimism kicks in before we see bear claws again
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Obvious clues that ETH will reach 5k is the wick game inside the triangle, bears are clearly losing in this price area right now. But the name of the game is to sell when bulls get their hopes back. But bear trap isnt far away , it will be reached when we go below the recent low of 3k. I am 96,97% sure that this is not the bottom, based of volume and price action and the time elapsed.
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**Obvious clues tha BTC***.... Not ETH ;D
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Triangle breakdown , could get ugly.
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We can see a long wick below the bearish candle that's still in line with the trend, so it can still make a rise from here without further correction. Right now it's getting bought anyway.
Seen you really have interesting Chart I start following you !!!!!!
ethhunter
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@BotSiro, thanks ! :)
leorio
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@ethhunter, ethhunter dude. i think your analysis is to the point. no emotion, no bs, no if this or that. i agree with you like more than 90% its gonna play out like that. however, just wondering when eth finally goes down to say 50 or 60,70 bucks, what does it mean for general alt coin markets in your opinion? so finally all the alts die out and go to zero? or they are gonna follow eth and go again signicifantly lower from where they are now which is already like -90% from ath, but once again start booming and mooning at some point in the future?
would like to hear your thoughts on that.
leorio
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@ethhunter, btw the very face in your profile picture is my face when I sold all my xrp last year after its first pump... after that i saw like 3-5 more craxy pumps... shit!!
ethhunter
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@leorio, :D i have become emotionally numb to crypto, i used to be that face in the beginning 1½ year ago. many sleepless nights. I actually think bull market caused me more sleep deprivation than this bear market.
My thoughts are:
Many alts will become subject to pump and dump schemes when they reach ultimate low market cap, but many will eventually fade to brink to zero.
Most likely there will be a handful of alts that will succeed, i think ETH is one of them.
Some alt that also are likely to succeed are the 3rd gen blockchains that bring something different to the table compared to ETH, also projects/protocols that enables crosschain applications (for example Project 0x).
Which alts that succeed will come down to the amount of active developers working on the blockchain and that has a solid funding and idea (no more ICO "scams").
Bottom line: For the long term investor or HODLER for alts it's important to follow whatever you coin you choose to invest. Personally I have always been big on ETH but today i think more highly of BTC than any other coin for good reasons, my only concern is energy consumption wich ETH is on it's way to solve with proof of stake. I don't know how much of a impact production cost has for price or what impact it will have in the future with such high energy consumption it takes to mine BTC.
leorio
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@ethhunter, thanks interesting. dude actually it can be very risky even at this lows . we must be vigilant and not put any money on any shit coin.
Hello, how could you expect that if in your previous post you see the ETH going down to 60$ in the next few weeks ?
ethhunter
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@OlivierBell, time wise i don't expect it to happen that quickly, i see eth $200+ and BTC 5k+ first :) . i think it will take some months before we see those low prices again..