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ETHUSD - Ultra bearish cross
ETHUSD just had a bearish cross below the kumo (cloud) which is an extremly bearish sign.
Elliott Wave Rules:
Wave 3 is the longest wave
If Wave 2 corrects fast, Wave 4 corrects slowly. (Which was the current correction)
Furthermore, the ETH.D chart escaped out of it's wedge (bullish), but just in regard to the dominance.
Because if BTC drops heavily let's say from 150B to 100B the percentage of market cap loss vs. ETH (market cap from ~20B to ~14B) is higher, means the dominance of ETH rises (but not the value of ETH)
Expect this one to fall.
Elliott Wave Rules:
Wave 3 is the longest wave
If Wave 2 corrects fast, Wave 4 corrects slowly. (Which was the current correction)
Furthermore, the ETH.D chart escaped out of it's wedge (bullish), but just in regard to the dominance.
Because if BTC drops heavily let's say from 150B to 100B the percentage of market cap loss vs. ETH (market cap from ~20B to ~14B) is higher, means the dominance of ETH rises (but not the value of ETH)
Expect this one to fall.
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