Bitcoin vs Ethereum — $100,000 vs $3,333

There is a huge difference between Bitcoin and Ethereum.

Ethereum peaked 17-April while Bitcoin did so 6-May.

Ethereum reached as low as 29-March on its retrace. Bitcoin at the same date is trading much, much higher.

The low 29-March on BTCUSDT has a price of $65,000. The current low stands $72,512.

Ethereum looks stable and ready to resume growing above $2,000.
(It is not about the previous low nor the consolidation range but the price.)

Bitcoin looks really good and ready to resume growing above $70,000.

Can it go lower? Sure. A retrace can continue for several days, it wouldn't change much.

What to make of this difference between Ethereum and Bitcoin?

I think it doesn't have much relevance because both projects remain far away from the main support zone, the 6-February low.

As long as this low remains unchallenged, consolidation is consolidation. Any type of price fluctuations is only noise. Looking too close won't help.

Zoom-out, what do you see?

A bearish wave that is intensifying, or the end of a retrace?

Do you see a retrace on Ethereum or sideways?

Bitcoin does have a retrace but only because it moved higher.

Lower is possible, but the bigger picture is saying up. When Bitcoin reaches $100,000, Ethereum will be trading above $3,333.

Thanks a lot for your continued support.

Namaste.