Hi everyone
Ethereum has been bearish for several weeks following all bearish markets
around the world. so we can say officially crypto winter been started for months.
.......................................................
if you look at the monthly chart above, we can see price tested 300MA(weekly).
this level is very important level because it happened for the first time.
so can the 300MA break downward for more drop?... no one knows
now lets look at 1D chart... we can see kind of head and shoulder formed
and price declined deeply after the neckline (dotted trend line) broke downward.
......................................................
in main chart on 4H timeframe price had several buy/sell volume pressure lately.
it shows buyers had upper hand at market.
so based on these data, can assume if we are not in the bottom it is close
to the bottom. in my view the bottom would be somewhere between 900$ and 600$.
so the best strategy is buying at those levels. (not a financial advise)
however it doesn't mean we start bull market from tomorrow. the bear market with
consolidation move for accumulation phase can take longer than a year.
although we may have semi bullish summer coming. let's see
share your ideas, view and charts about where you find the bottom here.
Enjoy the market
Ethereum has been bearish for several weeks following all bearish markets
around the world. so we can say officially crypto winter been started for months.
if you look at the monthly chart above, we can see price tested 300MA(weekly).
this level is very important level because it happened for the first time.
so can the 300MA break downward for more drop?... no one knows
now lets look at 1D chart... we can see kind of head and shoulder formed
and price declined deeply after the neckline (dotted trend line) broke downward.
in main chart on 4H timeframe price had several buy/sell volume pressure lately.
it shows buyers had upper hand at market.
so based on these data, can assume if we are not in the bottom it is close
to the bottom. in my view the bottom would be somewhere between 900$ and 600$.
so the best strategy is buying at those levels. (not a financial advise)
however it doesn't mean we start bull market from tomorrow. the bear market with
consolidation move for accumulation phase can take longer than a year.
although we may have semi bullish summer coming. let's see
share your ideas, view and charts about where you find the bottom here.
Enjoy the market
