ETH Update Monthly Close SEPT
Now that ETH has finally followed BTC, the Dow, the S&P500 and the Nasdaq in breaking below its bear-flag pattern that was formed back in June, let's have a look @ what could be in store for October.
Things to note:
- broke below BF channel in September
- holding support @ the monthly 50EMA
- ETH has been the slowest to fall, so unless we are to believe it is stronger than BTC & the Stock Market Indexes, we could expect it will eventually fall harder to catch-up
Our relief rally target is the Golden Pocket FIB retracement to about $1500, which coincides with the 100/50 daily EMA resistances & the LT downward sloping trendline that ETH was rejected from during the #ETHMERGE fiasco that we said was going to be a "sell-the-news" hype driven event.
Bear targets:
- Bear target #1 $1,000 liquidity range
- Bear target #2 re-test June low @ $880
- Bear target #3 $600
- Bear target #4 BF measured move $300 - $400 macro bottom
We're almost there folks. I believe this market is close to bottoming and will provide us with some juicy entry points.
Pull-up the charts, toss out the hype, manage your emotions, be objective, and crush this market.
Things to note:
- broke below BF channel in September
- holding support @ the monthly 50EMA
- ETH has been the slowest to fall, so unless we are to believe it is stronger than BTC & the Stock Market Indexes, we could expect it will eventually fall harder to catch-up
Our relief rally target is the Golden Pocket FIB retracement to about $1500, which coincides with the 100/50 daily EMA resistances & the LT downward sloping trendline that ETH was rejected from during the #ETHMERGE fiasco that we said was going to be a "sell-the-news" hype driven event.
Bear targets:
- Bear target #1 $1,000 liquidity range
- Bear target #2 re-test June low @ $880
- Bear target #3 $600
- Bear target #4 BF measured move $300 - $400 macro bottom
We're almost there folks. I believe this market is close to bottoming and will provide us with some juicy entry points.
Pull-up the charts, toss out the hype, manage your emotions, be objective, and crush this market.
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.