ETHBTC ANALYSING THE BUBBLE
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4 months consolidation phase spawned a considerable liftoff that exceeded my expectations and made me turn my monitor vertically to inspect the full height of that pop. What's next?
Cyclic nature of open-ended markets entails the never-ending torrent of repeatedly changing accumulation phase and distribution phase in such a way that the end of an antecedent phase corresponds to the beginning of a new phase. At first blush, eth has all signs of staying in the distribution phase known for its inherent danger of a higher negative volatility.
The axis of a symmetry connects the 0.00215 BTC floor with the 0.0372 BTC top bar separating two equivalent 70 days time periods that map a triangular shape onto a 140 bars bubble.
Fibonacci spirals and timezones agreed in setting the point at which the market sentiment may retreat to 05.22. I would anticipate a strong slump until then.
As demonstrated by fibonacci timezones the bubble was highly coordinated with btc news events and halving rumors made the latter affect the direction of the overall trend. This market was timed in the simplest way that it effectively consolidated many reasons for railing south into one.
1. Valve is on and will be adding btc to steam.
2. Segregated witness is a pending pull request.
3. New release of bitsquare.
4. gbtc has seen a surge in value.
Eth wont defend its value against btc hype elevator.
My verdict: I forecast 0.01066 BTC in the coming days and likely 0.006 BTC before the end of may.
Cyclic nature of open-ended markets entails the never-ending torrent of repeatedly changing accumulation phase and distribution phase in such a way that the end of an antecedent phase corresponds to the beginning of a new phase. At first blush, eth has all signs of staying in the distribution phase known for its inherent danger of a higher negative volatility.
The axis of a symmetry connects the 0.00215 BTC floor with the 0.0372 BTC top bar separating two equivalent 70 days time periods that map a triangular shape onto a 140 bars bubble.
Fibonacci spirals and timezones agreed in setting the point at which the market sentiment may retreat to 05.22. I would anticipate a strong slump until then.
As demonstrated by fibonacci timezones the bubble was highly coordinated with btc news events and halving rumors made the latter affect the direction of the overall trend. This market was timed in the simplest way that it effectively consolidated many reasons for railing south into one.
1. Valve is on and will be adding btc to steam.
2. Segregated witness is a pending pull request.
3. New release of bitsquare.
4. gbtc has seen a surge in value.
Eth wont defend its value against btc hype elevator.
My verdict: I forecast 0.01066 BTC in the coming days and likely 0.006 BTC before the end of may.
Nota
Odds for slipping through the cracks devastate as the reasons for a slump add in. I have a little to no interest in poking or even publishing btc charts because the situation here was and is glaringly obvious and aint worth mentioning until that apparent obviousness gets less boring. Nevertheless the recent pennant breakout should reaccelerate the forces now and possibly result in a an impulse toward 480. As was obvious from the outset breaching 470 would turn eth into a piece of coal.
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