$ETH
Added 2024-04-18 15:17:07 +0000 UTC$BTC halving event is tomorrow which shouldn't effect $ETH but it is likely to feel any substantial reactions.
The market is showing a perfect 3 wave pull back now, holding on the 0.5 Fib.
Really we couldn't ask for a better set up before a known catalyst is above to come out.
So what do I think will happen?
If Whales sell the news tomorrow when the event happens, $BTC and $ETH drop and we want to see $ETH hold the 200 Day MA at $2500, a hold here successfully and I am buying.
No selling from the Whales and $ETH starts its move higher as shown for Wave 5.
Comments
Thank you. So, would you also anticipate ETH to go to 4800, even if BTC goes down to 52k?
Mechanic
2024-04-18 18:25:19 +0000 UTCNope not always in sync, last year, $BTC was 3-4 months ahead of $ETH and made a new ATH, $ETH has did not come anywhere close to an ATH, so they march for the same band but not always at the same pace
Gareth Neary
2024-04-18 17:44:20 +0000 UTCThank you for the update. I'm a bit puzzled about your expectation for wave 5, considering you're waiting for BTC to drop to around 52k, as the market tends to follow BTC.
Mechanic
2024-04-18 17:38:30 +0000 UTCTo take advantage of a catalyst event, to buy the asset cheaper then.
Gareth Neary
2024-04-18 15:29:59 +0000 UTCCrypto is risk on so whatever risk assets do it follows . BTC and ES are practically the same chart attest the same market structure
Noah
2024-04-18 15:26:42 +0000 UTCThank you for the update. Why the whales may sell after the halving event?
Manuel
2024-04-18 15:22:42 +0000 UTCI have no clue about what will happen, but all I know is that sell the news event seems to be trendy with crypto.
Luc
2024-04-18 15:19:58 +0000 UTC
