Wolf🐺

LONG LIFE TO CRYPTO.

It\'s been rough lads.

I do see a very similar structure of Oct. 2024.

$BTC / $GOLD RSI is sitting right at levels that have historically marked reversals.
Every time it’s been this washed out, BTC has gone on to outperform gold from there.

$RUT and $ETH are showing a very similar structure — a 4-year ascending triangle.
The Russell 2000 has already broken to new ATHs, while $ETH is still lagging, as it usually does. Looking back over the past decade, the pattern is clear: RUT breaks first, then roughly ~90 days later $ETH catches up.

This chart doesn’t read bearish to me at all.

Looking at the $ETH / $SILVER ratio, the RSI appears to have bottomed around 28.83.
That’s historically where momentum starts to shift.
If this holds, a catch-up move could be brewing, especially if risk appetite starts rotating back into crypto.

The Santa Rally effect in action.
$ETH showing real strength into year-end, now the real question is whether this move dies at the 3,800 zone or punches straight through it.

$ETH monthly chart still gives some bullish vibes.

Two paths heading into the December Santa Rally:
If the bull is over, $ETH should fail right at the 3700s, the iHS neckline.
If the bull has more fuel, we slice through that neckline and never look back.
We’re about to find out which story this market wants to tell.

The $ETH/RUT ratio is worth watching, the Russell 2000 is the core risk-on benchmark.
A big iHS here suggests ETH is gearing up to outperform traditional risk assets.
If this breaks out, crypto takes back leadership.

In this blood bath we at least get one good thing.
It is Black Friday and, as every year, @tradingview is giving away four annual subs: Ultimate, Premium, Plus, and Essential.
I will pick four winners.
Getting in is simple: like this and drop a comment.

You’ve been asking what I expect next.
In November I think $ETH should print a clear higher low (as shown below). Only after that can we realistically target new ATHs into December.
3100s is now the key support zone. If bulls defend it, trend stays intact. If it breaks… that’s how bear markets begin.

Swept the 3400s and landed in the 3000s. 🫡
In my view the worst part is now behind. We likely get some consolidation over the next weeks before momentum returns.