Likening Ethereum's rise to that of a tech start up: we see heavy interest from investors with tons of good news and updates to the platform pushing eth to all time high >>> investors become aware of scaling issues with ethereum and bitcoin hard fork drives fear and speculation so the dump from all time highs begins >>> bitcoin regains strength and pushes for and breaks all time highs as does litecoin, ethereum follows suit but does not establish a new all time high (wick not candle close) >>> investors are now wary of a new hard fork and lack of timeframe on proof of stake for ethereum.
Possible weekly scenarios: Eth forms weekly equilibrium/tightening pattern until progress on PoS Eth bounces (soon) and breaks all time high to follow suit with bitcoin
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Tightening weekly on eth: ATH at 420, bottom at 130, lower high at 397, higher low at 201, lower high at 351, higher low at ???