Ethereum is in a downfall. From the previous TA (and in the summer), I have mentioned that Ethereum will be in a free fall and it has continued. The next support will be around the $45usd mark on the weekly chart (all the experts are now calling the price around this mark and they are just acknowleding it now). The way it looks, ethereum will fall to this level. Do not be surprised if it falls down to the $8usd mark. If it does, then ethereum will have stabailized itself. All things must come to a natural order, even cryptocurrency.
Looking at the monthly chart, a h&s should play out into 2019 and if it does, look for the $8usd mark for a great opporunity for those who missed the FOMO in 12/2017-1/2018.
Always remember, buy low, sell high. When the media says it is the next big thing, get ready to sell at the top. When those whose words can make the market move down (JP Morgan, Warren Buffet, etc...), wait for the drop, buy and wait for the correction to go back up a little and then sell. Why? Because it is how they move the market to drop and they themselves buy (i.e., JP Morgan, Goldman Sachs).
As always, this is not a signal to trade. DYOR.
Looking at the monthly chart, a h&s should play out into 2019 and if it does, look for the $8usd mark for a great opporunity for those who missed the FOMO in 12/2017-1/2018.
Always remember, buy low, sell high. When the media says it is the next big thing, get ready to sell at the top. When those whose words can make the market move down (JP Morgan, Warren Buffet, etc...), wait for the drop, buy and wait for the correction to go back up a little and then sell. Why? Because it is how they move the market to drop and they themselves buy (i.e., JP Morgan, Goldman Sachs).
As always, this is not a signal to trade. DYOR.