There is a strong correlation between the Chinese currency and ETH compared to BTC.
Both created a bottom in April this year.
Previously, they also created a bottom in 2016 and 2019, in the same week.
This time, ETH has created a bottom in April and demonstrated clear strength.
However, there is a period when ETH moves sideways / stagnates, while the Chinese currency continues to rise.
Although the correlation level does not always match 100%, this chart shows one very clear thing:
👉 The only way forward is: increase.
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