ETH is just an example, but its plain to see this ETH sell off is far from over sold...its still in the early stages..and once we break 145...the next stop is a break of the 2018 lows...at least to the 50 region.
Lets not forget the ETHs creator has long been forecasting that ETH is in for a big price fall..
Almost all of the crypto complex charts look like this..save a few...
On this ETH chart you can also see we have been forming a very large head and shoulders pattern...its quite classic right down to the volume signatures. And its a biig long one...so the impact will be meaningful.
We are heading for a massive washout and wealth redistribution,..that didn't happen in 2018...but its probably going to happen in 2020.
BTC dominance is down from over 70% to mid 60s....which means other coins like BCH are taking small market share from BTC and I see this trend to continue (but the shakeout will force lots of crypto money into BTC when the whote hurricane gets going into over sold territory...BTC will probably remain the king for a while longer...but I expect it will also eventually retest the 3K mark....we need a large scale shake out...it hasn't happened...but its coming...I am not forecasting the end of crypto...I am forecasting a well needed shake up and clean up of useless tokens...
Lets not forget the ETHs creator has long been forecasting that ETH is in for a big price fall..
Almost all of the crypto complex charts look like this..save a few...
On this ETH chart you can also see we have been forming a very large head and shoulders pattern...its quite classic right down to the volume signatures. And its a biig long one...so the impact will be meaningful.
We are heading for a massive washout and wealth redistribution,..that didn't happen in 2018...but its probably going to happen in 2020.
BTC dominance is down from over 70% to mid 60s....which means other coins like BCH are taking small market share from BTC and I see this trend to continue (but the shakeout will force lots of crypto money into BTC when the whote hurricane gets going into over sold territory...BTC will probably remain the king for a while longer...but I expect it will also eventually retest the 3K mark....we need a large scale shake out...it hasn't happened...but its coming...I am not forecasting the end of crypto...I am forecasting a well needed shake up and clean up of useless tokens...