ETHUSD outlook bearish
Updated
I love log charts, but I'm starting to see them as rose tinted spectacles. They only really tell you what you want to see. This linear stuff is way more scary.
Note
In terms of the last bull run from Nov 2017 to Jan 2018, we've already retraced 78 % on ETHUSD. Now looking at the entire cycle from late 2016 I think we haven't quite got to the 78 % mark yet, but I think we will and I expect that we'll go below it. Assuming this correction is a massive market correction like 2011 and end 2013, we can expect something over 80 %. In my opinion we'll write off all of the last bull run and dip below the last consolidation level before bouncing back and consolidating at that same level I just mentioned. That means around 300 USD with a possible dip to 200 USD. Remember that when Bitcoin reached over 1000 USD it crashed back down to 170 USD.Note
Is the correction over? This week will provide the answer!
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