Bitcoin Comprehensive Top-Down Market Analysis

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: palle11 on May 15, 2020, 05:09:14 PM

For etheruem selling below $200 is worrisome. Etheruem showed a very good drive up just before bitcoin halving but it has been on dropping since after the halving, what could be the reason? Bitcoin has been adding some profit but etheruem is still behind.

Probably because ETH investors are:

(1) Shifting their assets to BTC because of the halving
(2) Investors already taking their profit with it reaches above $200
(3) Just grew tired of all the hype on ETH 2.0

That's really the difference between Bitcoin and the rest of the altcoin market, and that is the reason why Bitcoin is still the King because it is the most sought after assets in crypto.

mahilchii

member

Activity: 560

Merit: 13

Quote from: palle11 on May 15, 2020, 05:09:14 PM

For etheruem selling below $200 is worrisome. Etheruem showed a very good drive up just before bitcoin halving but it has been on dropping since after the halving, what could be the reason? Bitcoin has been adding some profit but etheruem is still behind.

I was wondering like ETH may reach 300$ till halving and now the price is initially dropping is unbelievable, even after halving BTCs Price movement is really good but these alts are underperforming and don't Know how long it will last long. I am not sure when the alt season will begin but there are less probability of pump this season, I am holding again..

palle11

sr. member

Activity: 2366

Merit: 332

For etheruem selling below $200 is worrisome. Etheruem showed a very good drive up just before bitcoin halving but it has been on dropping since after the halving, what could be the reason? Bitcoin has been adding some profit but etheruem is still behind.

cryptoadvocate

jr. member

Activity: 112

Merit: 1

Typically try to keep TA updates short and to the point, but thought I'd try sharing my weekly market analysis with readers. This is an exercise I do weekly to inform the strength of trend, my bias for spot, leveraged and short-term trades, as well as identify when that trend begins to shift.

Nearly 5k words including charts from the weekly down to 2H for both Bitcoin and Ethereum can be found here: https://www.cryptoadvocate.net/post/btc-eth-market-analysis-15-05-20

Definitely recommend the read, but high level takeaways is that Bitcoin is maintaining bullish trend across almost all timeframes but there is cause for concern given HTF market structure. Ethereum meanwhile is barely hanging on - close to flipping to bearish bias and lower time frames have already shifted that way.

Topic: Bitcoin Comprehensive Top-Down Market Analysis (Read 112 times)