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"!
