ETH Nightmare ScenarioThis is the worst case scenario for ETH - this turns into a giant macro head and shoulders and completely collapses. Bitcoin has one also. The neckline would be the macro 0.618 from the very bottom to the ATH. Once the SPX starts to collapse (as per the 2008 crash fractal which fits perfectly over the current price action) crypto will go the rest of the way with it. I've seen this dump coming for a while now and was wondering what the news event would be to "cause" it (because everyone knows you can predict when the news events will happen by looking at the charts) - we got our answer with FTX. The "black swan" event that broke the market. Put your hands up and yell "Weeee!" all the way down the rollercoaster. Short everything for financial freedom and then get your money off the exchanges before they freeze withdrawals lol
Ethdump
Ethereum - PoS dump is not a hindrance! Watching BitcoinSubscribe and get a free trading strategy for Bitcoin and Ethereum every day!
Ethereum looks stronger against the background of bitcoin, as its dominance tells us, it is bought back more aggressively against the background of the transition to PoS.
But I remember very well how in 2019 Bitcoin cash split into two networks CASH and SV, after a short period of time (almost immediately) there was a huge ladies of the market!
Therefore, news and technology are good, but the market goes for liquidity. and so 2 scenarios Bullish and Bearish!
Therefore, technology is not a reason to sell Buterin immature technologies.
Bullish
Ethereum needs to consolidate above the level of 1650-1675 and trade there to go higher, or make a movement with consolidation at the level of 1675. Before 1800, Ether looks SHORT (globally), fixing at 1800 will open us a more global long
Short
Locally, the Ethereum short looks like this, fixing below $1,500 and trading at this level with a weak buyer will lead us to the level of 1425, if we break through it, we fix under it and go to close the ETH CME gap to the $1,300 area.
Powell is coming soon, be careful. Remember Trading is about waiting. Good luck.