MesniBurek
MesniBurek 2 minutes reading from Bitcoin

Bitcoin, Ethereum, Bitcoin Cash, Ripple, and Litecoin

Short thread on the whole crypto market looking at BTC, ETH and ETH / BTC as there is a lot of confusion lately when comparing their structures and the likely direction for the next few months:

ETH / BTC loosing momentum with clear bearish divergence at top of range after a completed/almost completed 5 wave move up. Expecting a move down to at least mid range due to either: stronger BTC pump or a stronger ETH dump. Leaning towards stronger ETH dump and here's why->

BTC is in a corrective structure and whatever kind of chop we get here I'm expecting new lows. As you know SPX has been following the bearish path fort he past few months nicely and I'm still expecting the summer lows to be taken. Therefore, same goes for BTC… ->

I see a lot counting the ETH move up as a 5 impulse. But because of all the above, I'm going with corrective. If we're expecting a weaker ETH in regards to BTC, I could see a flat form here as BTC chops fort he nex few weeks. But afterwards a dump to continue->

As I'm not one of your favorite 100k+ follower influencers who know for certain the direction of the market and are never wrong, I fully realise I could be very wrong. So take this analysis as something to lean on when doing your own TA. ALWAYS trade solely on YOUR OWN TA.

This post is based on this twitter thread.

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