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Welcome to this ETH/USDT update. ETH looks bearish to me as of now. It's currently trading inside a bear flag structure. If this pattern plays out perfectly then we see a 10-12% drop in the price of ETH.
Currently, it's trading above $3800 and I'm expecting a drop from here. I'm expecting ETH can drop up to $3300-$3400 from here and after that drop we might see a quick bounce.
If ETH breaks and closes above $3950 then this scenario becomes invalid.
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