$ETH Freefall: Where does it bottom?
Continuing to use the same chart. As predicted, Ethereum broke down below $2650 but before I had time to update the chart also broke $2500 support. ETH is testing the January low at this time. In my opinion ~2400 should prove to be strong support although I do feel like we could have a very fast drawdown to $2000-$2100 to test the intraday lows in January. That said, this feels more like capitulation that previous support tests. I currently peg 70% odds that we are putting in a near-term bottom.
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