D4rkEnergY is live from Seoul Airport with a new update on Ethereum. Let's jump right in - I have to catch a flight in 10 minutes! I know, all the last updates on Ethereum all have been S.O.S, Oh No, Head dives to 580, ETH is struggling and so.
I really want to, but I still cannot come with good news to you guys! Ethereum has lost 14 % (!!) the last 24 hours compared with Bitcoins 6 %. I told you last time about the lack of support levels and the correlation between ICOs and the ETH price, which is the reason why we once again are witnessing this blood bath.
I am convinced though that as soon we go in an uptrend again, Ethereum will shoot up, so don't worry. Most of the ICO's are build on Ethereum Smart Contract Platforms, even though NEO in the future will take over more.
As you can see here on the 4h ETHUSD Chart, we are facing one bear flag after another. We are seeing this over and over again on many altcoin charts.
You can expect Ethereum to go to 480 next time.
Gotta catch the flight!
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I'm back again, guys. Thank you for being patient. As you can see we hit the support level I told you about, and then went into a free fall after, when Bitcoin suddenly came to rescue and gave Ethereum some mouth-to-mouth.
Ethereums heart are beating again. Irregular. We want the heart to go back into Sinus rhythm. We might need some electroshock from Bitcoin.
I will follow up on this later <3
Remember to give a like!
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Ethereum is trying its best to follow Bitcoin. As you can see, we also here have the opportunity to restart a new 1-5 EW Cycle. As BTC and LTC also Ethereum is in the ascending triangle and waiting for Bitcoin to break out.
If it doesn't happen and BTC manage to fail, it will be fatal for ETH - you can expect ETH to go all the way down to 400 USD, if BTC goes to 6k. Ugh..
Please give a LIKE for the updates - Thx in advance <3
One of the problems with calculating good support zones is that in their skyrocket periods there was no real significant retracement (we could not test them). Now we have to put ranges between 10-30% in order to have a more confident decisions!
HasanAR
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Please update your thoughts on Bitcoin :)
03hill
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Mouth to mouth works wonders
dittaeva
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Why don't you analyze ETHBTC instead when the USD price is so dependent on the preformance of BTC?
proficy
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ICO's are the exact reason of this downtrend ... ETH is leading us down, not BTC, expect the G20 to kill of unregelated ICO's.
Lou100B
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Posted this buy in on Feb 1... We touched it twice. It was some good money to be made and still is. I think we bottomed out.