Now that ETH has finally followed BTC, the Dow, the S&P500 and the Nasdaq in breaking below its bear-flag pattern that was formed back in June, let's have a look @ what could be in store for October.
Things to note:
- broke below BF channel in September
- holding support @ the monthly 50EMA
- ETH has been the slowest to fall, so unless we are to believe it is stronger than BTC & the Stock Market Indexes, we could expect it will eventually fall harder to catch-up
Our relief rally target is the Golden Pocket FIB retracement to about $1500, which coincides with the 100/50 daily EMA resistances & the LT downward sloping trendline that ETH was rejected from during the #ETHMERGE fiasco that we said was going to be a "sell-the-news" hype driven event.
Bear targets:
- Bear target #1 $1,000 liquidity range
- Bear target #2 re-test June low @ $880
- Bear target #3 $600
- Bear target #4 BF measured move $300 - $400 macro bottom
We're almost there folks. I believe this market is close to bottoming and will provide us with some juicy entry points.
Pull-up the charts, toss out the hype, manage your emotions, be objective, and crush this market.
Things to note:
- broke below BF channel in September
- holding support @ the monthly 50EMA
- ETH has been the slowest to fall, so unless we are to believe it is stronger than BTC & the Stock Market Indexes, we could expect it will eventually fall harder to catch-up
Our relief rally target is the Golden Pocket FIB retracement to about $1500, which coincides with the 100/50 daily EMA resistances & the LT downward sloping trendline that ETH was rejected from during the #ETHMERGE fiasco that we said was going to be a "sell-the-news" hype driven event.
Bear targets:
- Bear target #1 $1,000 liquidity range
- Bear target #2 re-test June low @ $880
- Bear target #3 $600
- Bear target #4 BF measured move $300 - $400 macro bottom
We're almost there folks. I believe this market is close to bottoming and will provide us with some juicy entry points.
Pull-up the charts, toss out the hype, manage your emotions, be objective, and crush this market.