I'm currently canceling my downward analysis, I will make some changes to my analyses.
ETH Elliot analysis
It seems like it could make one more dip and then move up afterwards.
Bitcoin Elliot analysis, while ETH is making a dip, it looks like it could correct a bit and then move towards ATH.
Since ETH seems like it might make one more dip, I haven't taken a long position yet, I'm currently watching. I'll reassess after some time. #Bitcoin #ETH
There is no accumulation on the spot side for Bitcoin and ETH, it doesnāt feel like we will turn back from here.
Below, I think 99k for Bitcoin and 2300 for ETH are nice reversal levels.
If a short-term upward correction comes and if there is a short structure, I will be willing to short again, because the overall picture is still closer to short as I mentioned. #bitcoin #ETH
The 5-wave upward structure is complete, and this upward structure appears to be the final wave of a correction in the bigger picture. This has led me to play in the downward direction.
Honestly, although it may be an illusion in the short term, Bitcoin might not turn upward again without seeing 97-98 or even 94-95 in the next 2-3 weeks.
There are also different scenarios where I could be wrong in the short term, such as BTC going up to 108-109 and then falling from there. #bitcoin
I think everyone is waiting for a drop in the coins, BTC is fully between 94-95
The problem is that even though I'm a bit stuck on the direction, a little more downward seems more likely, I don't really like to analyze what the general consensus thinks, because I think it won't work.
I haven't been stuck on direction like this for a long time. #Bitcoin
Is it a good sign or a bad sign that ETH is making a move while BTC cannot reach a new peak?
š“ Whenever ETH starts to separate and pump on its own, the market subsequently crashes, which is the downside and I have experienced this repeatedly in the past.
š¢ However, the dominance is still very high and there is still a long way for ETH to go up; if the dominance were in the 40s, it would be much more problematic. #bitcoin #Ethereum
There has been no selling on the ETH side, which is very nice, but on the BTC side, there has been selling since 94k, you can see it fully in the chart.
This makes me wonder if the rise up to 94k will be retraced, but there is no selling on ETH either, so I'm not sure how that will happen.
For these reasons, my general opinion is that ETH is positive, BTC is negative in my opinion. #Bitcoin #Ethereum
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