With Bitcoin and all Crypto market trading weak, ETH is breaking down from key trendline support and a very weak weekly candle close in development, ETH most likely will trade into two major support zones (previous congestion area) to find support before price can start forming meaningful bottom with days/weeks to come.
Zone 1 is around 1500 - 1900 area whereas zone 2 is around 1000-1300 area.
Only market will know how extended the price will go through and as I share previously trying to catching a bottom is like catching a falling knife. Hope you all did not following those famous youtubers or twitter accounts "buying the dips" ideas and be patient and respect the techincal of the price chart as it is a reflection of the collective market sentiment in most case. Trade without leverage, with more patient we may have the opportunity of a lifetime to invest in ETH and BTC at much cheaper price soon. Good luck trading!
Zone 1 is around 1500 - 1900 area whereas zone 2 is around 1000-1300 area.
Only market will know how extended the price will go through and as I share previously trying to catching a bottom is like catching a falling knife. Hope you all did not following those famous youtubers or twitter accounts "buying the dips" ideas and be patient and respect the techincal of the price chart as it is a reflection of the collective market sentiment in most case. Trade without leverage, with more patient we may have the opportunity of a lifetime to invest in ETH and BTC at much cheaper price soon. Good luck trading!