I am very pessimistic about this trend as we are up ~100% recently. We definitely need some correction. But who knows, crypto has outlawed everything.
Good Luck.
As described in my previous post , ETH did a good job of consolidating. Once we test some recent lows, its time to look at the sky.
We saw an inverse proportion between BTC and ETH . We will follow that for a while. Expecting a quick correction to BTC which will move ETH price a lil higher.
As we are approaching Dec 10th and 18th with a caution, BTC futures...
COINBASE:ETHUSD might retest the lows if it breaks the support level of ~$450.
As we saw, it tried to break support multiple times in past few days and not successful. The triangles do suggest a movement. Assuming it follows the trend line in dark green there is a downward movement as noted yesterday .
Looking for an entry point around ~$402.. if not, ~$420.
ETHUSD Ready to drop .. May not be a huge sell-off but will be a slow killer. So far, buyers and sellers are balancing pretty well. Interesting to see who wins at the end.
Will be watching closely to enter ~400? Maybe even below that based on the velocity of the downward movement.
