The above chart of Ethereum look to me like we're about to enter the iii of 3 down. This is something the US Markets entered into about a week ago and are about to finish. Crypto has been tightly correlated to the swings of risk assets for the better part of a year now. But I must, this consolidation near the lows has been frustrating. Nonetheless, I stand by analysis and will say with a high degree of certainty that the consolidation pattern is not a bullish pattern.
Like the markets I expect this primary wave 3 of 5 of C of Cycle wave 2 should breach the lows. I expect Ethereum will reconcile much lower. Any advance in price should be looked at as a potential short entry.
As for me, I am not desperate to trade Crypto right now. I am feeling content waiting for the bottom of this pattern from November 2021 to start a new long-term trend of higher prices. I am excited about buying...just not until I can confirm we're bottoming.
PS: I will be off the desk tomorrow for errands associated with Hurricane Ian. I'll be back on Tuesday to update Crypto and the US markets but will answer DM's.