ETH for the Bears
Updated
After all this excitement with the ETF approval we have expected the fundamentals to kick in and take this baby to All Time Highs.
Unfortunately we have seen the opposite. From my technical analysis we may be experiencing a bearish cycle for Ethereum. I myself was anticipating the Fib Level to be in favor of the upside but now i’m noticing a clear bear flag on the 3hr - Daily timeframes. The fib level indicates a price drop to around 3,080 and if it breaks below that we will see a push to the downside of nearly 2800. Let’s say they’re going to target some liquidity… that would drop the price further beyond 2000 and around 1800 range
If it holds support around 3100 we should be aye okay to start heading towards the upside and move away from the downside
Unfortunately we have seen the opposite. From my technical analysis we may be experiencing a bearish cycle for Ethereum. I myself was anticipating the Fib Level to be in favor of the upside but now i’m noticing a clear bear flag on the 3hr - Daily timeframes. The fib level indicates a price drop to around 3,080 and if it breaks below that we will see a push to the downside of nearly 2800. Let’s say they’re going to target some liquidity… that would drop the price further beyond 2000 and around 1800 range
If it holds support around 3100 we should be aye okay to start heading towards the upside and move away from the downside
Note
We have broke past 2800 ! i closed my short at 2800 right before the big red candle tanked below to around 2715... wishin i held longer but still in profit... Next target is 2560 ! look to spot an entry
Note
Target has been reached again ! i still believe we will target 1800. well have to see
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