Now that ETH has finally followed BTC, the Dow, the S&P500 and the Nasdaq in breaking below its bear-flag pattern that was formed back in June, let's have a look @ what could be in store for October.
Things to note: - broke below BF channel in September - holding support @ the monthly 50EMA - ETH has been the slowest to fall, so unless we are to believe it is stronger than BTC & the Stock Market Indexes, we could expect it will eventually fall harder to catch-up
Our relief rally target is the Golden Pocket FIB retracement to about $1500, which coincides with the 100/50 daily EMA resistances & the LT downward sloping trendline that ETH was rejected from during the #ETHMERGE fiasco that we said was going to be a "sell-the-news" hype driven event.
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