Ethereum Won't Go Much Lower Before Reversal

1 Feb

The falling wedge on the ETHUSDT chart is very clear.

The current 3D session, which started yesterday, shows a clear rejection. Notice the long upper shadow on the current candle.

The next support is the last low, around 2,900. And main support is the 0.382 fib. level around 2,850, basically the same.

We can easily develop a support range between 2,800 and 3,000 as the first target. This is for the first drop.

How much further down it goes will depend on the strength of the current move. Maybe it won't go much lower and it will recover and start some consolidation before the next leg-up. Maybe, it will continue lower and test 2,565, right now, I don't know.

It really depends on how strong the bears are on this current retrace, which won't last that long.

Notice this ETHUSDT chart, the down-move has been happening since mid-December, the 14th, which means that the correction must be getting close to a close.

2,800 is really strong. Right now we have reasons to believe that this support level will hold.

Keep in mind that this is the last drop before a massive bull-run. This means that we can have a sudden crash, a flash crash, a major flush. Anything goes. There can be anything because the market tends to clear out all weak hands before massive growth. The market is sure to surprise, for those unprepared will be gone.

The greedy ones will suffer the most. If you've been building a LONG position with more than 5X you will get wiped out.

When the next low is in, start to build with 2-3X, and only go higher when the reversal is confirmed. The market will shake and produce several strong moves to kick as many people out as possible; patience is key.

Since the rise will take a long while. It is wiser to wait until the bottom is confirmed. Once the bottom is in and the reversal starts to form, you will have plenty of time to load up before prices go up.

Think about this: If Ethereum will grow beyond $10,000, it would be unwise to lose all of your capital trying to catch a bottom that is not in yet. But if you wait patiently, the market will give you undeniable signals and it feels much more better to buy-in and start earning right away.

The difference is between losses and stress, and profits and success.

It is your choice... Stop gambling. You are only fooling yourself.

Buy spot. Trade spot and only when you are successful, you can decide to use the more advanced method which is leveraged trading.

You say you want to make money, big money and make it fast, and yet, even with a bullish rising market, you have been losing for months.

If you are really wise, accept the truth, take responsibility for your actions and see how soon your profits will grow.

On the other hand, if you are a successful trader, keep up the great work.
You deserve the best.

Thanks a lot for your continued support.

Namaste.

2 Feb

Catatan

The rejection is happening right below EMA55 daily, but there is support at MA200, which was challenged 13-Jan:

This is an interesting situation that we have here because we have both, strong resistance and strong support; consolidation.

3 Feb

Trade aktif

Ethereum just activated the strongest support at $2,000.
It will take some time for the bottom to settle but this is it.

Good luck.

Congrats if you waited patiently.
Now you will have the opportunity to enjoy a great entry price and timing for the 2025 bull-market.

Namaste.