Deviations and Overreactions as the Pathway to New Highs

The period of October 2021 to January 2022 was a deviation on ETH and BTC. The downtrend resulting as a reaction to this deviation has not been invalidated, despite optimistic trends over the past two weeks. With intimidating macro obstacles looming and fundamental fear-driven threats to market-wide liquidity arriving by March, this downtrend could continue as part of an overreaction. It might appear as if it is all over for both BTC and ETH. Hopefully, that downward overreaction can give rise to a retest, a bounce, a return of bullishness, and eventually, new highs for ETH. Yet, the BTC chart does not appear to even have room to provide grounds for a retest. Despite ETH and BTC seemingly moving together, on the high time frames they each paint a disparate structure. The bitcoin chart seems more exhausted--at the end of its road--the birth of a new trend?