EthereumLong
ETH TO REBOUND TO NEW HIGHS?
Updated
Hello - I know if you're passionate about crypto and Defi like I am, this is in some ways not the best time. But as they say, when others are fearful be greedy...
So just a friendly reminder that this time a year ago ETH was trading around $200 USD and we've just lost one month of price action... So even after the drop ETH is still up 1,100% in 12 months. :o
Currently on the 4HR I'm seeing a Descending Triangle, and going in to the weekend as well, I think we could be looking to drop further.
This weekly chart though looks a lot like an Elliot Wave, and that we COULD be in wave four.
IF>
If the bears can't push all the way to next support at 1,600, say IF it reversed in the 1,700-1,900 range then we could enter a wave five.
Then I think after some consolidations we could be looking to get into the 6,000-10,000 range some months down the road, especially if everyone freaks out about inflation. Your groceries more expensive recently? Mine are. Just saying.
Not financial advice, just some thoughts. Manage your risk and be careful. Good luck!
DEFI!!!
So just a friendly reminder that this time a year ago ETH was trading around $200 USD and we've just lost one month of price action... So even after the drop ETH is still up 1,100% in 12 months. :o
Currently on the 4HR I'm seeing a Descending Triangle, and going in to the weekend as well, I think we could be looking to drop further.
This weekly chart though looks a lot like an Elliot Wave, and that we COULD be in wave four.
IF>
If the bears can't push all the way to next support at 1,600, say IF it reversed in the 1,700-1,900 range then we could enter a wave five.
Then I think after some consolidations we could be looking to get into the 6,000-10,000 range some months down the road, especially if everyone freaks out about inflation. Your groceries more expensive recently? Mine are. Just saying.
Not financial advice, just some thoughts. Manage your risk and be careful. Good luck!
DEFI!!!
Note
:)Note
A Double Bottom around 17-1800 would be excellent
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