EthereumShort
Clear down trend for sometime, what to expect now.
When in doubt, zoom out. Lets look at the bigger picture here for a second. Starting with the DEMAs. The 50/200 DEMAs show that we are/were at what looks to be the peak price 227$. if we would have broke out from the downtrend shown buy the (yellow lines) it would have been a strong bullish indicator. Since we did not id expect a few more drops to come after or before halfing. On a larger scale note the trend line indicated by the green where barley broken/kissed. I did not see any huge break out and therefore coupled with current market/economic sentiment see both as a bearish indicator over all in the short term along with the ascending wedge with descending volume (organe trend lines) couple that with coinbase "conveniently" going down when everything seems to pump and tons of tether being brrrrrrrd into the market, something extremely sketchy is going on rn.
Now our MACD is showing that we are about to start dropping for a lil longer, by how much and how long is anyones guess. fomo is a strong drug and money can potentially be made but risk is way to high for me rn.
Looking at 14 feb to 8 mar u can see a similar dump pattern (price peaks, hard fast little dump, recover slightly and then a hard fast huge dump).
On the flip side, the larger pattern seems to be a bullish one, sort of a descending wedge and once price action coils tighter i think there is a strong possibility for mooning. however that seems to be about a year or maybe 6 months out and a better entry price can be had. good target buy prices would be anything below 130$-90$.
Now our MACD is showing that we are about to start dropping for a lil longer, by how much and how long is anyones guess. fomo is a strong drug and money can potentially be made but risk is way to high for me rn.
Looking at 14 feb to 8 mar u can see a similar dump pattern (price peaks, hard fast little dump, recover slightly and then a hard fast huge dump).
On the flip side, the larger pattern seems to be a bullish one, sort of a descending wedge and once price action coils tighter i think there is a strong possibility for mooning. however that seems to be about a year or maybe 6 months out and a better entry price can be had. good target buy prices would be anything below 130$-90$.
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