Descending Triangle has formed and the price has broken below support
This makes the first target around $754.
Unfortunately, with the erratic markets with the domino effect of FTX, Alameda, Binance and Bitcoin following - this is causing a major ripple effect.
When this happens there is less confidence and more uncertainty with investors, which leads them.
1. Taking their money to more stable markets.
2. Withdrawing their funds all together
3. Depositing their funds in a hard wallet (USB) until all settles.
and Ethereum is no exception (despite it being my absolutely favourite crypto).
I'm medium term bearish but but long term bullish.
This makes the first target around $754.
Unfortunately, with the erratic markets with the domino effect of FTX, Alameda, Binance and Bitcoin following - this is causing a major ripple effect.
When this happens there is less confidence and more uncertainty with investors, which leads them.
1. Taking their money to more stable markets.
2. Withdrawing their funds all together
3. Depositing their funds in a hard wallet (USB) until all settles.
and Ethereum is no exception (despite it being my absolutely favourite crypto).
I'm medium term bearish but but long term bullish.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.