ETHUSD ~ Post capitulation movement & S/R zonesOverall review/thoughts on capitulation event: see linked ideas below
ETH is right now in a very strong position.
All charts (1h, 2h, 3h, 4h, 12h, D) are showing ETH regaining above EMA's quite well.
As of RIGHT NOW, ETH is sitting on the FIB retracement AND a whole bunch of EMAs on all time-frames.
I think ETH will be able to hold above this level, but if we do see it lose these supports, we will at least see ETH drop down to the next FIB level of this current zone.
So if we are SUPER LUCKY we could fill some buy orders at the $2150 area.
If you were lucky to buy a few days ago when it dumped down to $1700 zone, congrats!
I dont think we will see ETH below this price again, possibly ever.
ETH price floor set in @ $1732 which also coincides almost exactly on the dollar with the 0.236 FIB retracement for the full bullrun cycle since the last capitulation in march 2020.
This is the longest term fib you can draw on the chart right now, and we literally hit the 0.236 retracement by -$9.55 and bounced back up above $2k.
Sometimes the TA really does work to a T.
Scroll to the left on my chart above to see that FIB level from the previous FIB retracement I drew on it.
So - what do I expect to happen now?
See my other posts below, but basically: we are in an accumulation phase where big money is buying BTC, ETH, ADA, LTC (surprisingly?), and even some BCH via OTC trades at about 500% normal volume.
OTC is where big money buys crypto. It means we are making big orders (minimum order size $100k to $250k depending which OTC you are using) - and these orders are made directly to miners and suppliers.
These orders do NOT hit the orderbooks on exchanges/swaps. Therefor these orders are NOT on the orderbook and do NOT directly affect the price.
Yes this is how big money buys crypto. We dont want the price to go up, while we accumulate.
That is what is happening right now. I have multiple OTC orders submitted right now, so I know how this works because this is how I buy my majors. (I buy altcoins normally like you do on exchanges, because I dont usually make $250k+ orders on alts).
ETH should be ranging between 2150 low up to maximum 3k for at least a week or two, possibly a month. I think we will see resumption of the bullrun around end of june, early july.
My TPs for end of bullrun are still above $10k for ETH, where I'll sell 10% of my ETH for this bullrun, convert that to stablecoins and get 12%APY yeild on it until I spend it to buy more in the next bear market.
Ez as pi, my friends.
HODL on, BUY if you can, and see you in a few....
