D4rkEnergY is back! This time we will take a look at Ethereum . D4 is generally a big fan of ETH. But lately ETH has not fared that well compared to BTC . Many people in the community were out there and claiming, that ETH soon would take over BTC position as Market Leader, and soon would take over the domination of the Global Market.
But I think we clearly can ascertain that that is not the case for now. BTC tend to fare better than all the other Alts, when we have uncertainty in the market.
BUT, BUT, BUT Ethereum will come back with more power than EVER, and D4 will explain you why.....
First let us take a look at the 4h ETHUSD Chart. D4 warned you last time, when ETH finally had found support on the up , dotted green line, that we probably would fall through due to the uncertainty in the market.
Hereafter we managed to climb up again, but this time we were facing a , and didn't manage to make 3 higher highs, why we fell through. A took us even lower, and we now have found support at the 61,8 % retracement level. I've said it many times before, but BTC is the leader and will dictate the market, so also ETH will wait for Daddy to give directions.
So when will ETH have a great comeback? D4 will tell you. The reason why ETH hasn't done that well lately is because of many ICO's have postponed their launch. ICO' startups knows when we are in a market with uncertainty, people are not willing to invest in them. Most of the ICO's accept payment in Ethereum . So there is a clear correlation with the amount of ICO' offerings out there and the price of ETH.
So when BTC will go through it's inverse and people will feel more comfortable and get their belief back in the market, we will again see ETH take a rocket ship to the moon!
D4 loves you <3
PS. Guys, I have now more than 800 messages in my PM. I cannot answer all of them. I'm really sorry. Next Wednesday the 14th the PARTY WILL begin, and D4 will explain everything to you guys directly from our HQ in Seoul! Be patient. It will be crazy. Please give a BIG LIKE and FOLLOW, and D4 will make you rich!
Also on the Ethereum chart the exact same pattern has been created. The hack on Binance have really created a lot of uncertainty in the market.
As you can see a bear flag also here has been created, and we will go lower if BTC drops more!
Love from D4! <3
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A rally will come after people lose hope, 78.6 retracement seems like a point where this could happen.... I'm pretty much permabull on ETH but this retracement is currently a joke compared to earlier ones, the larger the rally the larger the retracement. I could ofcourse be wrong but the current market condition looks like a set up to me.