The weekly Ethereum chart, as opposed to the daily chart, is simple and concise. There are 2 simple patterns on this chart: the 2018 bear market and the 2019/2020 reversal pattern. The latter is a consolidation, but as per this chart a pretty wide consolidation. That’s why 99% of investors will not ‘experience’ this as a consolidation, it really feels very ‘bad’ if you hold Ethereum as an investor.
Interestingly, the reversal pattern (in yellow on below chart) has several shorter term trends (from a weeks to a few months): a reversal early 2019, an uptrend mid-2019, a downtrend in the latter part of 2019, an uptrend early 2020, the Corona crash, and a new uptrend currently. That’s 6 trends, but all within the context of the long term reversal.
What does all this mean?
Benefit of the doubt to the long term crypto investor who is able to buy-and-hold. Not many are able to withstand the volatility in the crypto market, and 99% of crypto investors buy and sell way too often.