As we predicted in last post, ETH went to 1000-1100 area. After CPI news, price went to 1300 area and now making bullish pattern. Expecting price will go to 1550 area.
Firstly we go short because of the bearish pattern. After breakout of this pattern, wait for little bullish pattern and risk entry on lower trendline of bigger bullish pattern.
In last post we predicted this upward momentum. Now, ETH price making bearish pattern. This week we have FED Funds Rate news and Nonfarm payrolls news. Expecting massive movement that will make ETH go to 1000.
Waiting for bullish pattern to open long position.
ETH is making very clear bearish pattern . We can look for short in here.
In current economic situation, BTC or any cryptocurrency can't go back to old good nice high price. All world leading economists saying that recession is coming. Remember, All we look for is short. So BTC is going back to price during pandemic which is $6000 - $10000 area (value area for BTC)
As we see, BTC broke the bearish pattern in upward direction, and now its really hard to tell BTC's potential reversal point to continue downward movement caused by recent economic situation.
We should wait until this bearish pattern form completely, after that we can look for short trade risk entry from the upper line.
As we know FED funds rate's hike affecting crypto and stock market consideratily. Expecting EthUSD will go back to the price of during pandemic (300-500 usd area). Before that, I'm predicting institutional sectors are taking orders of 1400 area.
BTC formed bearish pattern. If BTC break higher low and makes lower low without breaking previous higher high, we can look for short term short.