🅱️ Ethereum Will Hit Bottom Before Bitcoin

9 May

I would like to call your attention to Bitcoin's monthly chart, as well as Ethereum's ... Bitcoin is worse off right now.

Ethereum is doing worse but this means that the correction is more advanced on this pair; below you can find Ethereum's monthly chart and analysis:

➖ While Ethereum is 33% down, Bitcoin is only 17% down.
➖ While for Bitcoin April closed within March's wick low, for Ethereum the close was much lower compared to its previous month producing a penetration of support. April's monthly close for Ethereum fully confirms the next bearish move (down).

➖ Ethereum and Bitcoin move together.
➖ Ethereum, Bitcoin and the entire global financial markets are connected and what happens in one place affects everything.

Conclusion

👉 Ethereum is likely to hit bottom before Bitcoin.

This is important for those who are going to try and catch the bottom in anticipation of the next Cryptocurrency market bull-run.

Namaste.

12 Haz

Note

Lower high on the monthly timeframe... Maximum pain incoming to the market.