Being bearish on $ETH here is suicide.

Since the end of the previous bear market $ETH has been trading in specific patterns that I have highlighted here for you.

Chart is a little messy, but everything marked has a solid purpose.

Red - Distribution/consolidation phase

Orange - Deviation

Green - Expansion

On top of these phases, $ETH has been trading in ranges within a range, which i have marked for you.

When the $ETH chart is highlighted like this you can see it is following a pattern and respecting ranges to a very high degree of precision.

This is one of the reasons I was so confident that the bottom was in.

So where are we now?

After an aggressive and painful 5 month distribution leg, we had a short lived deviation, and now we are in an aggressive expansion phase.

This is the phase in which ETH begins to outperform, dominance drops and ETH/BTC surges.

It is no coincidence that as ETH began breaking out:

- BTC.D dropped from a key level

- ETH.D pumped from and key level

- ETH/BTC pumped from a key level

In addition, $ETH has spent over two days above the 1d 200ema with every HTF MACD strongly bullish.

I have my targets for $ETH at $4,000 by end of june/first two weeks of July.

From there, we monitor the wider market and see whats next...

But one thing is certain in my book...

$ETH is anything but bearish.