So my previous ideas about BTC, ETH, DOGE ETC were correct. And if this is your first #cryptocrash, expect a lot more price drops. The overall trend looks down (as shown in the chart)
Lengths of previous #Crypto bear markets:
2014-15: 633 days
2017-19: 361 days
2019-20: 260 days
#MyTwoCents
At this moment, ETH seems to be gaining bearish momentum, however, it is just above local support at around 2.1k
But a break here might take it down to around 1.7k
Looking at the inverted Cup & Handle pattern, A restest of the $1700 range certainly looks possible
Even though we have 2 possible scenarios, the daily chart suggests short term downtrend. if it goes below the lower trend line (RED) bears would take over, our next support is around $28k-$30k. And if it fails to hold it, it may go down to $20k. However, if it goes above the upper trend line (GREEN) bulls would take over.
On a positive note: Minor corrections...
So Doge has formed a head & shoulders pattern. it can go down from the right shoulder. There's no daily support if we go below $25. Breakthrough support all the way down to 0.078. Too much risk involved at this point. Unless Elon tweets about it haha
trade carefully.
Doge seems to be going sideways. However, if it stays above the support, we may see a touch-off at 0.33, and could return to bullish trend.
If not, expect a bearish trend.
Then again, the whole market is red, we will just have to wait and see what unfolds for Doge.
Safe trading everyone!
