[ $SEI ]

With the PA we've had in recent weeks, none of it looks impulsive. I was fully expecting for things to escalate from December, but it took a U-turn to the downside with the same angle as the rise.

Many alts are doing exact same structures as ETH did from 2017 top until 2021 top, but compressed:
- sharp ABC from the top,
- double bottom into 0.786 Fib from bottom to mid-top (Dec on alts).

Only once the bottom formation concluded is where ETH started impulsing: that being a break of the diagonal. C19 obviously caused a retest of the diagonal and perhaps it does come, but there are countless different ways PA can behave once the diagonal is broken.

The point of this comparison is a top to bottom formation and an example that impulses start after the bottom is formed. What comes after will most probably deviate from the fractal, but the implication will remain.

We can still stay down here a bit, which is totally fine.