We got the #ETHMERGE sell-off that I predicted back @ the end of Aug, with #ETH getting rejected @ the GP FIB @ $1790 & trending lower ever since.
Things to note:
- Rejection just under GP @ $1789
- Broke back below LT downward sloping trendline
- 9SMA crossed BELOW 21 SUPER BEARISH
- Getting rejected @ 100SMA $1480ish
- Bear target #1 $1300ish HAS BEEN HIT
- Broke BELOW BF channel for FIRST TIME since it formed in June
- Bear target #2 $1000 - $1200 liquidity zone
- Bear target #3 re-test June low
- RSI cooled off so bounce is in order, but could also dump hard & get way OS
ETH finally broke below the BF channel that formed in June. This was to be expected (see my earlier work) as BTC broke it weeks ago, as did the NDX & S&P500.
ETH isn't a super-hero, nor can it walk on water. Its fate will always be the same as that of the greater market.
This is why I always say: avoid the hype, follow the charts, and listen to LeMan!
Things to note:
- Rejection just under GP @ $1789
- Broke back below LT downward sloping trendline
- 9SMA crossed BELOW 21 SUPER BEARISH
- Getting rejected @ 100SMA $1480ish
- Bear target #1 $1300ish HAS BEEN HIT
- Broke BELOW BF channel for FIRST TIME since it formed in June
- Bear target #2 $1000 - $1200 liquidity zone
- Bear target #3 re-test June low
- RSI cooled off so bounce is in order, but could also dump hard & get way OS
ETH finally broke below the BF channel that formed in June. This was to be expected (see my earlier work) as BTC broke it weeks ago, as did the NDX & S&P500.
ETH isn't a super-hero, nor can it walk on water. Its fate will always be the same as that of the greater market.
This is why I always say: avoid the hype, follow the charts, and listen to LeMan!