ETHUSD Analysis 6/1/2022 4hr
Update from previous idea:
it has been a while for the blog, I have been focusing a lot of time on forex the past week or so and eth has just been depressing to look at and it still is.
just thought I would post an update here, we have blasted through this fib and are at the -0.618 which also coincides with this big yellow line, I am not saying this is gonna be the ultimate support and its amazing. there is a high chance we break this level but if you look up from where this line has begun you can see we haven't seen a candle close below this level unless we have seen a further drop in price. I know I am a bit late to call for support here but lets just wait for a 4hr close and if we are below. exit your long probably cash out on crypto and see what happens after that.
I don't want to sound defeated here but its not looking great, would just like to say this. anyone who has been in for longer than a year knows this feeling everything down 40-50% looks like theres no hope and then your account does a 20x for the next 4 months. don't rule it out but don't be dumb either.
it has been a while for the blog, I have been focusing a lot of time on forex the past week or so and eth has just been depressing to look at and it still is.
just thought I would post an update here, we have blasted through this fib and are at the -0.618 which also coincides with this big yellow line, I am not saying this is gonna be the ultimate support and its amazing. there is a high chance we break this level but if you look up from where this line has begun you can see we haven't seen a candle close below this level unless we have seen a further drop in price. I know I am a bit late to call for support here but lets just wait for a 4hr close and if we are below. exit your long probably cash out on crypto and see what happens after that.
I don't want to sound defeated here but its not looking great, would just like to say this. anyone who has been in for longer than a year knows this feeling everything down 40-50% looks like theres no hope and then your account does a 20x for the next 4 months. don't rule it out but don't be dumb either.
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