ETH has been acting as we predicted @ the end of August since its sell-off after the merge.
Things to note:
- Rejection just under GP @ $1789
- Broke back below LT downward sloping trendline
- 9SMA crossed BELOW 21 SUPER BEARISH
- 9 about to cross below 100SMA (super bearish)
- Getting rejected @ 100SMA $1480ish
- Bear target #1 $1300ish HAS BEEN HIT
- Broke BELOW BF channel for FIRST TIME!
- Bear target #2 $1000 - $1200 liquidity zone
- Bear target #3 re-test June low
I'm ultimately looking for a $300 - $400 macro bottom for ETH. Does this sound crazy? Yes, it does, so please keep an open mind & be objective.
We'll focus on the charts & data together & update our thoughts as new data comes into play.
Cheers!
Things to note:
- Rejection just under GP @ $1789
- Broke back below LT downward sloping trendline
- 9SMA crossed BELOW 21 SUPER BEARISH
- 9 about to cross below 100SMA (super bearish)
- Getting rejected @ 100SMA $1480ish
- Bear target #1 $1300ish HAS BEEN HIT
- Broke BELOW BF channel for FIRST TIME!
- Bear target #2 $1000 - $1200 liquidity zone
- Bear target #3 re-test June low
I'm ultimately looking for a $300 - $400 macro bottom for ETH. Does this sound crazy? Yes, it does, so please keep an open mind & be objective.
We'll focus on the charts & data together & update our thoughts as new data comes into play.
Cheers!