Ethereum - Trendline from 2015 is breaking down! (unbeliveable)
- This is very negative news for ETH because this trendline on the monthly chart from 2015 to 2023 is currently breaking down!
- It's the first time you see this very important info, so make sure you follow me to not miss updates that no one talks about.
- What does it mean for ETH? There is a great chance that investors are going to sell ETH completely or sell ETH and buy BTC instead. Both are negative for the price of Ethereum.
- Expect some bad news on Ethereum; currently, we do not know what it's going to be, but it's probably going to happen, and very soon.
- 2 scenarios can happen. The first is that BTC will rise drastically and ETH only slowly. The second is that BTC will drop and ETH will drop even more with a big red dildo.
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- If we take a look at the 20-month moving average, the price is currently below it, and historically, it has been a pretty good indicator.
- From the Elliott Wave perspective, the ETHBTC pair is moving in ABC 3-wave patterns all the time, which is no surprise because this is not a trending market. ETHBTC doesn't have a trend; it has choppy price action, something like EURUSD.
- I expect the ETHBTC pair to go down by 75%, which is a reasonable level to convert into ETH again. It's also the 0.5 FIB retracement.
- I am sure you like this information that no one is talking about; now do your own due diligence on ETH.
- Thank you, and for more ideas, hit "Like" and "Follow"!
