June 18 2022 - Crypto crash, where does ethereum go?
Last post on ETH we had all downside targets achieved in orderly fashion. I warned a bit on the weekly RSI being oversold however in a crash/recession we can throw that out the window. In general, we shouldn't make a trade based on RSI but use it as a warning. Oversold can become more oversold.
Onto the next set of targets to the downside which is favored as we have lost all major EMA supports on the monthly and weekly. Difficult to initiate new shorts in an already downtrending market. If you're not already positioned, best to stay out and just watch the fun. Opportunities are abound everywhere.
Bear Targets:
Good luck to all and stay safe.
Onto the next set of targets to the downside which is favored as we have lost all major EMA supports on the monthly and weekly. Difficult to initiate new shorts in an already downtrending market. If you're not already positioned, best to stay out and just watch the fun. Opportunities are abound everywhere.
Bear Targets:
- Target 1: 590
- Target 2: 380
- Target 3: 240
Good luck to all and stay safe.
Comment:
Eth and BTC with a short squeeze. This is why you don't short in the whole. ETH bounces back exactly at previous mentioned target (see black line). Still bearish overall, but a possible short term low could be marked.