Ethereum -- Below $500 is almost certain.

Welcome to my long term outlook on Ethereum.

I do believe in a steady drop that will take Ethereum below $500 within a month.

Comment:

I made a huge mistake with this chart, the moving averages are set to 20 and 10. I did not intend to do that. Still, the chart has some valid points.

Comment:

Never mind, I think I intentionally used the 10 and 20 MAs while I was doing the chart, then thought I should have used 50 and 100 SMA. Looks like it dropped below 500 on Bitfinex. Happy gambling all!

Comment:

This is a good place to short, then purchase around 450ish.

Comment:

Let me see if I can update with a chart in this post, but it looks like there is really nothing new I can think about.

Comment:

Time to short!
Reasons:
1. Green down trend.
2. Red horizonatal resistance.
3. 100 day SMA resistance.
4. Look at the MA generated by the BB,
which is a 20 day SMA, even that is acting as resistance.
5. And it seems like the 20 day SMA is going below
the 100 day SMA.

So many technical bearish signals. I'd take a short here for sure or wait on sidelines, either way works.

Comment:

Another reason, we completed the Elliot cycle, and are now entering the B-C correction phase.

I'm looking at my previous history, I called the sell off a bit early, those who followed my idea probably sold at 710, but if you also believed in the selloff like I did, and you didn't go on tilt watching Ethereum go up to 850, this may be a good opportunity. GL ALL.

Comment:

Pretty much nailed it ;)

Comment:

Beautiful chart:

Comment:

Closed below that trend line, not the best thing to see if you are a bull.