Hi Everyone! Wanted to point out in the video ETHBTC pair still has substantial room for more downward pressure. ETHUSD Mid Term Group still shows more downward pressure. I’m of the opinion what we are seeing currently in the Short Term Group of time frames is only a brief period of upward pressure while downward pressure still dominates the Mid Term Group of time frames. What may appear to be a period of Re-Accumulation beginning may simply be the beginning of a “Last Point of Supply” event before potentially falling further.

Bare in mind BTCUSD is currently going up at present. More so than ETHUSD . The result of this is ETHBTC pair going down more. Meaning, they are accumulating Bitcoin by selling ETH for Bitcoin on the ETHBTC pair. The Bitcoin accumulated on the Alt-Coin/ Bitcoin pairs at present may be used to push down Bitcoin once again in the near future to accumulate more “cash.”

The Blue LSMA is quite low in the 8-hour to have a chance of any significant expansion up any time soon. The Red RSI in the 3-hour is too low at present to get much expansion of the B-Bands at all in the 3-hour. Which is the main reason I’m of the opinion ETHUSD is still going sideways for a while. For what purpose? For whales to accumulate more Bitcoin . How so? By selling their ETH for Bitcoin on the ETHBTC pair; as well as other Alt-Coin/ BTC pairs. I believe they have plans to use that Bitcoin they accumulate on the Alt-Coin/ Bitcoin pairs to dump Bitcoin once again in the near future. My opinion of course.

Happy Trading and Stay Awesome!

David