๐ฅ Ethereum Dead Cat Bounce? Potential Massive Sell-Off Coming
In this analysis I want to take a look at ETH's price action over the last few weeks. It appears that ETH is underway to form a classical pattern that most of you a familiar with, a dead cat bounce into another sell-off.
Keep in mind, the dead cat has not been confirmed yet, since the price needs to go below the purple dotted line. Still, it's a pattern that will likely play out if the Bitcoin bulls will not step in very soon.
ETH (and likely also BTC) is at risk of giving away most post-ETF gains if this continues. We knew already from other analyses that Bitcoin is far ahead of where it *should* be at this point in time, so a correction might be necessary? Time will tell.
Keep in mind, the dead cat has not been confirmed yet, since the price needs to go below the purple dotted line. Still, it's a pattern that will likely play out if the Bitcoin bulls will not step in very soon.
ETH (and likely also BTC) is at risk of giving away most post-ETF gains if this continues. We knew already from other analyses that Bitcoin is far ahead of where it *should* be at this point in time, so a correction might be necessary? Time will tell.
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