It's clear just looking at the bare linear chart that we haven't finished our correction yet. I suggest that we'll see a drop to the 0.786 level now that this last bull trap is over (almost over). We might even go much lower I don't know. What I am sure of is that we'll come back up afterwards.
Market-wise, I think this ETH correction will be driven by a drop in the BTC price. Once BTC finds its bottom (could be double bottom at 6000 or new lower level) then ETH will find a bottom too.
I have no idea what the time frame on this is.
Market-wise, I think this ETH correction will be driven by a drop in the BTC price. Once BTC finds its bottom (could be double bottom at 6000 or new lower level) then ETH will find a bottom too.
I have no idea what the time frame on this is.
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Just add that if the bull trap isn't complete we might go up to around 1000 before coming down
Comentário:
In my opinion the correction is still ongoing, but I am constantly re-evaluating my position. A bull trap is likely after which the downtrend would begin again. If not its moon beams all the way ;)