Hello friends, today you can review the technical analysis on the 1W (weekly) linear scale chart for Ethereum (ETHUSD).
The chart shows only the price and the similarities between the current market structure and price to the prior bull/bear cycle market structure and price.
Each Support and Resistance Trend Line is color coordinated to match the prior cycle to current cycle. Though price may move slightly different, the overall structure looks very similar. It seems that the current price may be headed down to $1,000 - $1,500. To make it easier to follow, I made a pathway in the prior and current cycle. There is a possibility that price could come all the way down to $250 range due to a black swan event, however there are multiple support and resistance zones before that happens.
I am NOT confident that Ethereum price will make an all time high until after the next Bitcoin halving in 2024.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
The chart shows only the price and the similarities between the current market structure and price to the prior bull/bear cycle market structure and price.
Each Support and Resistance Trend Line is color coordinated to match the prior cycle to current cycle. Though price may move slightly different, the overall structure looks very similar. It seems that the current price may be headed down to $1,000 - $1,500. To make it easier to follow, I made a pathway in the prior and current cycle. There is a possibility that price could come all the way down to $250 range due to a black swan event, however there are multiple support and resistance zones before that happens.
I am NOT confident that Ethereum price will make an all time high until after the next Bitcoin halving in 2024.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
I chart on Tradingview: www.tradingview.com/symbols/BTCUSD/?aff_id=25106
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
