ETHUSD Ethereum : Crash or dash? That's on you! 13.6
Updated
Let's cut out the psychological pressure of seeing red and look at facts.
What's right now dominating the financial markets?
Inflation and panic selling.
What happens once the dust settles?
Think about "investment", what makes it attractive?
Crypto currency and specifically the Ethereum is an excellent hedge against inflation, fundamentally.
With scarce supply which is likely to burn faster than mined, and technology which could be the future of payment solutions - Ethereum shines.
So let's explain the crash technically:
1) Oversold condition which is only comparable to November 2016 and late 2018 - Both times proving to be extremely attractive buys.
2) Connecting trend-lines spanning back 1-4 years show very tight convergence between 890 - 1150.
3) A "Falling wedge" pattern is visible on a weekly time frame, which is bullish.
JP Morgan among other major names in finance name Crypto currency to be a smarter investment than real estate in current climate.
Don't let your emotion control your judgement, don't let fear run you out of investment.
Be smart, be patient, be calculated.
---------------------------------------------------------------------------------------
Thank you so much for reading! If you found my idea useful please like and follow - It would mean a lot.
My goal is to help as many traders as possible make sense of the markets.
If you have any questions or comments please don't hesitate, it's the fuel to keep me going :)
----------------------------------------------------------------------------------------
What's right now dominating the financial markets?
Inflation and panic selling.
What happens once the dust settles?
Think about "investment", what makes it attractive?
Crypto currency and specifically the Ethereum is an excellent hedge against inflation, fundamentally.
With scarce supply which is likely to burn faster than mined, and technology which could be the future of payment solutions - Ethereum shines.
So let's explain the crash technically:
1) Oversold condition which is only comparable to November 2016 and late 2018 - Both times proving to be extremely attractive buys.
2) Connecting trend-lines spanning back 1-4 years show very tight convergence between 890 - 1150.
3) A "Falling wedge" pattern is visible on a weekly time frame, which is bullish.
JP Morgan among other major names in finance name Crypto currency to be a smarter investment than real estate in current climate.
Don't let your emotion control your judgement, don't let fear run you out of investment.
Be smart, be patient, be calculated.
---------------------------------------------------------------------------------------
Thank you so much for reading! If you found my idea useful please like and follow - It would mean a lot.
My goal is to help as many traders as possible make sense of the markets.
If you have any questions or comments please don't hesitate, it's the fuel to keep me going :)
----------------------------------------------------------------------------------------
Trade closed: target reached
Price reached the support and bounce by 100% exactly to target 1 of 1948 very quickly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.