Ethereum's Only Bullish Scenario (August 2024)
Since the bullish move on Ethereum from June 2022 till March 2024 can never be counted as an impulsive wave; I expect ETH to face a challenging sell-off in the coming weeks.
As long as the price is still below $4,000; many bearish analysis are valid (for instance ETH can go <$800)
The invalidation of all the bearish ideas & the confirmation for the bullish continuation is basically passing $4,000.
In the mean while, the only bullish idea that can be bet on is the scenario of a triangle. Whether the (c) of the triangle is in or the triangle gets bigger. As long as the price is above $1,000 and below $4,000, the idea of the bullish triangle is on.
Bearish invalidation is breaking $1,000
Bullish confirmation is passing $4,000
As long as the price is still below $4,000; many bearish analysis are valid (for instance ETH can go <$800)
The invalidation of all the bearish ideas & the confirmation for the bullish continuation is basically passing $4,000.
In the mean while, the only bullish idea that can be bet on is the scenario of a triangle. Whether the (c) of the triangle is in or the triangle gets bigger. As long as the price is above $1,000 and below $4,000, the idea of the bullish triangle is on.
Bearish invalidation is breaking $1,000
Bullish confirmation is passing $4,000
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