Hello, Skyrexians!
It’s not a top secret that Bitcoin dominance is about to finish the uptrend and it can give the second life to ETHUSDT . We have already seen the bounce, but now asset is struggling to break through $2600. We can really see small correction in the upcoming week, but finally uptrend has been already confirmed.
Let’s take a look at the weekly chart. I marked the Elliott waves structure for you and in my opinion now price is printing the wave 3. At the bottom there was a green dot on Bullish/Bearish Reversal Bar Indicator [Skyrexio] which is huge confirmation of the bull run. The target for wave 3 is 1.61 Fibonacci at $6500. Anyway, please take into account the second scenario, when BTC dominance will reach 67% and ETH will retest the low (wave 5 in C). Now I have 50/50 probability, but anyway if you bought alts at the 65.3% dominance your deposit will not suffer significantly.
Best regards,
Ivan Skyrexio
