Good morning fellow traders,
As we all know, ETH did the unimaginable yesterday. We grew from 770s to 1100s. This is all good and heavenly until we realize the pullback coming after this. ETH traders have to be extremely careful nowadays. This much of a breakout might end in a bigger pullback. I expect ETH to go down as low as 800 in the upcoming days and then maybe all the way down to 600 before starting to grow back again. If we look for a cup formation in weekly time frame, our price target must be exactly 580 (h/2).
Share your thoughts on my idea in the comments section!!
As we all know, ETH did the unimaginable yesterday. We grew from 770s to 1100s. This is all good and heavenly until we realize the pullback coming after this. ETH traders have to be extremely careful nowadays. This much of a breakout might end in a bigger pullback. I expect ETH to go down as low as 800 in the upcoming days and then maybe all the way down to 600 before starting to grow back again. If we look for a cup formation in weekly time frame, our price target must be exactly 580 (h/2).
Share your thoughts on my idea in the comments section!!