Just making a short projection. I don't want to spend the time making any long posts at the moment, but I do want to provide some quick updates. My guess is the long term uptrend for ETH will break in the upcoming months, resulting in new bear market lows for Ethereum. I think there's a decent chance it'll enter that green zone on my chart. All my fundamental reasonings can be read in prior posts, though I will point out that there have been continuous, large ETH exchange inflows over the last couple weeks.
I also believe ETH/BTC will begin to really break down soon after breaking its long term uptrend. Let's see what happens!
Currently, ETH is resting on a recently broken downtrend from a falling wedge. In crypto, I find that falling wedges rarely result in sustained upside beyond a momentary false breakout. I think confirmation here will be if ETH breaks back into the wedge, closing below today's low.
As always, this is not meant as financial advice, but for speculation and entertainment only. Thank you for reading!
-Victor Cobra
I also believe ETH/BTC will begin to really break down soon after breaking its long term uptrend. Let's see what happens!
Currently, ETH is resting on a recently broken downtrend from a falling wedge. In crypto, I find that falling wedges rarely result in sustained upside beyond a momentary false breakout. I think confirmation here will be if ETH breaks back into the wedge, closing below today's low.
As always, this is not meant as financial advice, but for speculation and entertainment only. Thank you for reading!
-Victor Cobra
