Why?
1) That ‘incredible sell’ signal way back. That was the sign Ethereum was cooked.
2) A death cross just printed on the weekly.
3) The head and shoulders pattern confirms breakdown.
Why $800? Because that’s the golden ratio that stopped the last sell off, which is measured from the break of past resistance to new market top.
Is it possible price action prints a higher high this year? Sure.
Is it probable? No.
Stay safe!
Ww
1) That ‘incredible sell’ signal way back. That was the sign Ethereum was cooked.
2) A death cross just printed on the weekly.
3) The head and shoulders pattern confirms breakdown.
Why $800? Because that’s the golden ratio that stopped the last sell off, which is measured from the break of past resistance to new market top.
Is it possible price action prints a higher high this year? Sure.
Is it probable? No.
Stay safe!
Ww
Trade active
There’s some resistance to this idea from the comments below and private messages received telling me ‘I’m wrong’ etc.. Maybe. I don’t know, don’t really care. My ideas are shared much for my own benefit / record keeping.
As to whether this is right or wrong. Try and not think about like that, rather, think about what is probable versus possible. Anything is possible.
A 3-day death cross is approaching with a projected crossover on June 30th. Price action dropped 80% at the last cross. You think this time will be different?
If history repeat price action will fly past the target to $500.
Emotion… it’s a money killer.
Trade active
Note
Price action lands on the 200-week SMA. I'm told this is the level that will save the bulls.Do you see a buy signal? No, neither do I. Jumpsuit on.. parachute optional.
Note
$200 to go! Seems the 200-week MA was irrelevant. If $800 fails look for support around $420. There's no more support until that level. If $420 fails, $130 it is.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Related publications
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.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Related publications
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.