The trader says that Ethereum went to a severe accident against Bitcoin as a declining style – here is his outlook
The cryptocurrency analyst and merchants Ali Martinez believes that ETHEREUM (ETH) is preparing to decrease dramatically against Bitcoin (BTC).
Martinez Recount His 134,700 followers on the X social media platform that ETHEREUM is a declining pattern against Bitcoin on the monthly graph.
According to Martinez, ETHEREUM can decrease by 91 % of the current level.
Based on an inverted chart for ETH/BTC, the analyst appears to indicate that the husband is a double style or M on the monthly time frame. Double resort style is a declining reflection pattern.
“From this angle, the ETH/BTC trading pair can go to 0.0020 BTC!”
ETHEREUM is traded at 0.02205 BTC ($ 1866) at the time of writing this report.
Quoted from data from the Crypto Santiment analysis platform, Martinez He says Ethereum 760,000 ETH whales, at a value of approximately $ 1.42 billion at current prices, has sold over the past two weeks.
Crypting and merchant also He says During the past five weeks, the whale activity has decreased on the ethereum network.
“Since February 25, the number of large ETHEREMM transactions has decreased by 63.8 %, indicating a decrease in the activity of whales on the network.”
It turns into bitcoin, Martinez He says After King Crypto decreased to less than 200 days and 50 days (MA), the moving averages work as resistance levels. Based on the analyst’s scheme, it appears to indicate that Bitcoin is on the threshold of the formation of the death of the death, a declining indicator when the moving averages converge for 200 days and 500 days.
“Bitcoin Master has 200 days at 86200 dollars and 50 Master days at $ 8,8300 as a major resistance in the future! A break above these levels may convert momentum into bulls.”
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