Whatever I see happening with Bitcoin normally is also true for Ethereum .
For example, notice the wave from July 21 to August 23, exactly the same for BTCUSD and ETHUSD .
Things are different right now.
Ether (ETH) just moved ahead of Bitcoin and went on to hit a new high today... This is great news. While Bitcoin is still strong but showing some signals.
How to read this signal in comparison to Bitcoin?
In the past I used to use Ethereum to predict the next Bitcoin move as it was ahead by a few days or hours, the signals tend to be easier to read.
Seeing Ethereum move ahead, can signal that Bitcoin will eliminate all signals and continue to grow ( /green) next.
Another scenario is where Bitcoin and Ethereum detach from each other.
Ethereum has all the Apps, NFTs and smart-contracts going on... With the cryptocurrency market evolving so much and so strong, the King and Queen of crypto detaching is something hard but can definitely happen.
Personally I believe if ETHUSD is to move straight up and go ahead, I think that Bitcoin will follow instead of detaching...
A Ethereum , Bitcoin as well.
And vice versa.
We are looking for Ethereum to hit $6,000 but it can take a while...
I just saw this now...
The Altcoins (in general) are behaving strongly as well.
If this ( ETHUSD going up while BTCUSD hits lower highs) goes on for more than today, I will update my view on Bitcoin taking this information into consideration and tell you what I see coming next.
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