ETH to 2618 - 3002 in Next Week
Diupdate
Looks like we ran out of sellers this morning. The second test of the 2000 ETH low just did not have the volume of sellers needed to push lower. Besides the obvious (everyone got liquidated), here are 3 likely reasons:
1. "B" Part of ABC correction coming in the next week (we have sold off for over a week straight)
2. The Consensus conference is next week/this week
3. Options expiration is next week (never know how this affects movement)
1. "B" Part of ABC correction coming in the next week (we have sold off for over a week straight)
2. The Consensus conference is next week/this week
3. Options expiration is next week (never know how this affects movement)
Catatan
Out. max short. we may bounce at 1814 (EMA)but are heading to 1650ish on our way to 1200 QUICKLY.A bit surprised, but shouldn't be. This still takes us back to February...
Catatan
Now to "super-size" this idea....Moving to 500% leverage. Using ANY movement to buy more ADA (higher beta to ETH, relatively same type of blockchain, just newer and better, without the name, customers, hype).
ADA will double by end of next week if not sooner.
BTW, this "Mega-Rip" is old-school crypto. It will rip straight up hundreds of dollars and will now keep going all day. shorts are getting/going to get SQUEEEEEEEZED.
Just crypto being crypto...
Catatan
Selling. Will go short between here (2700+ and 2900)Catatan
Remember...options expire this week. I am not sure it will hold true this time, but there has been selling pressure into OpEx.Catatan
Seem to be drifting in a descending triangle.
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