ETHEREUM YEARLY AND SECONDARY CYCLES
Nice July counter-trend move after completing the Break and extend pattern down into the 2022 lows.
I was hoping that price had reached 1948 by 8th August and then see more gains up into 2,487 for the rest of August, but it's lagging an extremely bullish move.
At the moment it's a larger rotation pattern that might fail to crack 1948, like it did in the 1st and 2nd Quarters.
I'd be keeping an eye on the following weekly channels for any new trending periods, either way.
#Ethereum
BITCOIN YEARLY AND PRIMARY CYCLES
Bitcoin lagging the same percentage moves as Ethereum.
I still have the view that the 3rd Quarter is rising upwards, after completing the break and extend patterns at the start of July.
However, it might have a hard time moving higher than 25.5k in August, and then we turn our attention to September.
A Weekly close above the Channels will be a confirming starting point, which hasn't happened as yet, compared to Ethereum in the 2nd week of July.
It wouldn't surprise me to see #Bitcoin retesting the lows around 19k - 20k again