Swing trade Idea. I See us having a pull back to the 2,000 Range before a continuation to the downside.
Reason is the pull back will bring in more liquidity as people FOMO back in and once sell orders are filled those people who bought in at 1200 - 2000 Will be REKT
At $500 Sell your home LOL
Bearish retest on 1h chart.
Could do a quick scalp down to 1k
If we break that 1k support then you can expect even more selling pressure down to 700-800 area
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Price retested resistance level $1250 and bounced.
ETH reached support zone and started consolidating.
Today price broke this zone and is falling now.
I see that Eth/Usd can...
If BTC retraces to >$4,000 (100% retrace), then what does that mean for the cryptomarket.
ETH has shattered all supports.
ETH 100% retrace is whooping $80.
That sounds like a nice entry price.
Been writing a few long articles lately but the tl;dr of it is that now that interest rates are going up, the asset speculation market (real estate, stocks, venture capital, crypto/NFTs) is largely over and money will start to flow into financial products that provide more "reliable" returns - mainly interest rates.
Given that the banks are dragging its feet in...
Price hanging under 1k after another volatile breakout from pattern support; current expected low is around 750 (775-725) if momentum/ volatility continues.
Reversal at this zone is still possible with the goal of re-entering triangular pattern; look for a push to 1k + breakout momentum past long-term trendline.
My plan is to hold off on all trades during this...
for me and mine this is the OG "Roseta stone" of the crypto market and the only indicator i really use anymore
during general stable market conditions BTC and ETH dominance charts are grate clues to short term market trends. ie when eth and BTC have inverse correlation we see a market pump or drop. major break outs and major dumps we see instead of inverse...
A few articles ago, I talked about ETH breaking the weekly trend line (teal) and the next major support being $800. Seeing as we just broke $1,000, I strongly believe that is the next target.
The macro environment has been extremely bad the past couple of months and is showing no signs of slowing down (30 year fixed rate mortgages are approaching '08, '09...
ETH daily chart:
On the daily the RSI has another 14% to drop
to the bottom from 2018.
if this chart repeats, this is the area it would drop
to which was also a previous high in the past.
Lets see if the daily falls into that bottoming zone.
also the DeMark 9 indicator is charting we are near
the bottom as well.
Ethereum has been pushed down by the daily resistance a few days ago like I predicted. Now we have a massive support waiting for us around 900-950. This should push us back up to around 1450 for a temporary recovery. After this I expect a pullback down to around this current level for a retest then a push back up to 1900 once this monthly candle
Closes
