Ethereum to $800

Why?

1) That ‘incredible sell’ signal way back. That was the sign Ethereum was cooked.

2) A death cross just printed on the weekly.

3) The head and shoulders pattern confirms breakdown.

Why $800? Because that’s the golden ratio that stopped the last sell off, which is measured from the break of past resistance to new market top.

Is it possible price action prints a higher high this year? Sure.

Is it probable? No.

Stay safe!

Ww

Trade aktif:

There’s some resistance to this idea from the comments below and private messages received telling me ‘I’m wrong’ etc..

Maybe. I don’t know, don’t really care. My ideas are shared much for my own benefit / record keeping.

As to whether this is right or wrong. Try and not think about like that, rather, think about what is probable versus possible. Anything is possible.

A 3-day death cross is approaching with a projected crossover on June 30th. Price action dropped 80% at the last cross. You think this time will be different?

If history repeat price action will fly past the target to $500.

Emotion… it’s a money killer.

Trade aktif

Komentar:

Price action lands on the 200-week SMA. I'm told this is the level that will save the bulls.

Do you see a buy signal? No, neither do I. Jumpsuit on.. parachute optional.

Komentar:

$200 to go! Seems the 200-week MA was irrelevant.

If $800 fails look for support around $420. There's no more support until that level. If $420 fails, $130 it is.