30/05/2021
Bitcoin dominance cycle suggests the 2017 crypto rally could repeat
Bitcoin dominance patterns are showing similar lows and an eerie resemblance to 2017. So what does this suggest for BTC price?
https://ct.com/9nnm
Bitcoin today against 2017 indicates that the bull run is not over yet!
BTC 1 hr: bullish RSI divergence forming in 1 hr chart , $32600 is support on symmetric triangle.
Have a look at these charts ,
Positive outlook
May 30th:
ETH in the long term:
Eth had a 60% correction after it hit new all time highs near $4300. But this correction looks more like mid 2017 correction. In June/july 2017 Eth price dumped 66% from its ATH of $400 to $135. After that it moved in range for near 5 months and then hit new high $1400. This jump was near 1000% up after a 66% correction.
Now in 2021 Eth again gave a correction of 60% from $4300 to $1700. And if it repeats the 2017 trend than we can see a slow upside move for the next 4 month and after that we can see a mega jump upto 1000% as 2017 which can give us a target of $18,000 by Q1-2022.
If we look at fundamentals, then eth 2.0 is also going to be released by Q1-2022. ETH Staking is increasing day by day.
Eth/btc also indicates same. We will share BTC Long Term view soon which indicates that BTC can Hit $100k -$300k by end of 2021.
As a trader we not need to be bearish or bullish. Instead we should understand market condition base on past trend and play accordingly.
Nikolai Kuznetsov 22 hours ago Bitcoin dominance cycle suggests the 2017 crypto rally could repeat Bitcoin dominance patterns are showing similar lows and an eerie resemblance to 2017. So what does this suggest for BTC price? 43822 Total views 33 Total shares Listen to article 0:00 Analysis For the....
