Everyone thought Ethereum was cheap last year in comparison to Bitcoin. Are they really still buying in cheap or potentially buying into an even bigger speculative falling knife?
Ethereum completed a hidden 5th wave Elliot structure above $1.44k, the issue is whether or not we have hit rock bottom or will continue selling off as Bitcoin/crypto continues to bleed off. Ethereum had a hidden bearish three drives aided with the help of FUD to push price back into accumulation or potentially last years distribution. All eyes are on this level as ETH has made an extreme sell off from $800.
There are multiple fibonacci levels of "support" that ETH broke through. Now we are on last years support hoping we don't continue falling to the next fib level of low $300s-280
I have seen crypto coins plummet lower than retailer/predictable support levels in order for whales to buy back in cheaper. I.E Stellar Lumens and other high risk coins and ETH could be one to wait for it to bottom before buying back
Is the risk to reward really there for ETH or is it still a falling knife to the next support area $280.
For now I am still bearish on ETH until Bitcoin resolves itself
Ethereum completed a hidden 5th wave Elliot structure above $1.44k, the issue is whether or not we have hit rock bottom or will continue selling off as Bitcoin/crypto continues to bleed off. Ethereum had a hidden bearish three drives aided with the help of FUD to push price back into accumulation or potentially last years distribution. All eyes are on this level as ETH has made an extreme sell off from $800.
There are multiple fibonacci levels of "support" that ETH broke through. Now we are on last years support hoping we don't continue falling to the next fib level of low $300s-280
I have seen crypto coins plummet lower than retailer/predictable support levels in order for whales to buy back in cheaper. I.E Stellar Lumens and other high risk coins and ETH could be one to wait for it to bottom before buying back
Is the risk to reward really there for ETH or is it still a falling knife to the next support area $280.
For now I am still bearish on ETH until Bitcoin resolves itself