Ethereum

The 2 February high was the peak of both the 20 week and 80 day cycles.  The next 80 day cycle trough is due this week and a likely stopping place is the blue line, the 80 day FLD circa $1400.  At which point the expectation is for a new 80 day cycle to commence.The FLD is a replica cycle pushed forward in time and when price looks to intersect with it at a trough zone we expect it to act as resistance.We have to bear in mind that because we have just had a 20 week cycle peak (meaning this longer cycle is now falling) that there is a bearish burden on the next 80 day cycle.  We are expecting a bounce but it should be running into a headwind.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/801944a38187467eb19bf98a377e94ae.png" />Feature image credit: Zoltan Tasi on UnsplashFor more insights, visit <a href="blockhead.co" rel="noopener noreferrer nofollow">blockhead.co.</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/1a7be959eac8444d91b041756c5c4523.jpeg" />This note is published in conjunction with Hurst Cycles Notes. A <a href="https://notes.hurstcycles.com/macro-outlook/macro-outlook-6-february-2023/?fpr&#61;blockhead" rel="noopener noreferrer nofollow">Macro Outlook note</a> comes out every Monday. The macro outlook series (subscription $37 per month) covers much of the macro complex: US Dollar, Gold, Copper, Oil, Yen, Euro, SPX, Nikkei, Bitcoin and US 10-year yield, along with extra content, long term views on multiple assets and updates every week.

Blocksmith Says: Prepare For Upwards Ethereum Rotation

Blockhead

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