ETHUSD testing a very strong 2-year trendline. IF it does break this trendline I believe we will see a bearish market for the next year or so with a potential low of $1700 and will consolidate until the next bullish cycle. However, I am bullish and have been buying the dip like a true degen
This is an important zone on many timeframes and it would be shocking, imo, if we were to really go below it barring a major recession.
I am doubtful we go below $2200-$2600 range, but expect $3,000 support (which has surprisingly held) will fall alongside BTCUSD falling below 40k (BTCUSD has strong support 27K-29K).
SPX price action will determine what happens and most likely this will be known this week.
InTheMoneyMike
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@XanaduRising, I agree, a very interesting spot in almost any market. Could turn into a major inflection point across the board. I'm excited to see how the stock market performs this week
This is an important zone on many timeframes and it would be shocking, imo, if we were to really go below it barring a major recession.
I am doubtful we go below $2200-$2600 range, but expect $3,000 support (which has surprisingly held) will fall alongside BTCUSD falling below 40k (BTCUSD has strong support 27K-29K).
SPX price action will determine what happens and most likely this will be known this week.