I want to start by saying, no trader is always right! Good Traders welcome when they are wrong to learn and improve, a good trader does not hold a bias or emotion when reality changes.....
With that being said I have attached my previous analysis of Eth where I expected it to overtake dominance, however crypto as a whole would still fall, So far the merge has shown no evidence of that, until it does I am abandoning that logic and will be utilizing ETH for my shorts again!
I wanted to use the Weekly chart; however, it did not show up clean in this....
This Eth dump is following a very close pattern to the 2018 dump here are the facts
Case Facts
2018:
1. From top to first bounce 75%
2. From 1st Bottom to Bounce 132%
3. Distance between 1st bottom and 2nd bottom 12.82%
2022:
1. From top to first bounce 82%
2. From 1st Bottom to Bounce 135%
3. In the projection
Projection:
This will likely fall to the bottom of the blue rectangle, which is 12.82 % from the first bounce in being compared Which is 974.38
After that it will likely spend weeks bouncing around in the blue rectangle sideways. the Top on of this rectangle is the ETH ALL time Vwap of 1152.26
Good Luck and enjoy the ride down!!!!! If you like the analysis like the Chart!!!!!
With that being said I have attached my previous analysis of Eth where I expected it to overtake dominance, however crypto as a whole would still fall, So far the merge has shown no evidence of that, until it does I am abandoning that logic and will be utilizing ETH for my shorts again!
I wanted to use the Weekly chart; however, it did not show up clean in this....
This Eth dump is following a very close pattern to the 2018 dump here are the facts
Case Facts
2018:
1. From top to first bounce 75%
2. From 1st Bottom to Bounce 132%
3. Distance between 1st bottom and 2nd bottom 12.82%
2022:
1. From top to first bounce 82%
2. From 1st Bottom to Bounce 135%
3. In the projection
Projection:
This will likely fall to the bottom of the blue rectangle, which is 12.82 % from the first bounce in being compared Which is 974.38
After that it will likely spend weeks bouncing around in the blue rectangle sideways. the Top on of this rectangle is the ETH ALL time Vwap of 1152.26
Good Luck and enjoy the ride down!!!!! If you like the analysis like the Chart!!!!!
