Ethereum has slightly dipped after rising by another $10 to near $230 with it now closer to $220.
Thats after ethereum’s value against bitcoin briefly overtook ₿0.023, an apparent significant resistance line.
The all time view above suggests this ₿0.023 line is a profit taking opportunity until it isn’t.
You can see the crash there at around that line at the end of 2016, with it then smashed through like nothing at the beginning of 2017 in what looks like the biggest green candle of the ratio.
Likewise at the other end of the chart there’s a double dip with a double bottom after reaching this line, while this time that last candle looks like it might have escaped the range.
We won’t know for sure of course until it breaks through, but a little dip here is healthy and thus might counterintuitively increase confidence because otherwise this +4% everyday was a bit stupid.
So stupid in fact bitcoin mazis went panic mode over eth’s continuous gain in the ratio to the point their excellent black hat marketing company came up with the idea of propping up tron, the copy clone.
Thinking they are very smart they’ll perhaps even give these hatters a bonus, but obviously all this has nothing to do with any of this nonsense, and has more to do with resistance line is gone resist.
So realistically you’d maybe expect some sort of sideways here, a kind of boilling the bands, to tension wraaa through resistance.
Or maybe this goes back to five dollars, but if it does sideways here then sweet 2016 might have nothing on the 2020s with the next target perhaps ₿0.03 or $300
and twenty four.