Alright folks I've got some data that you'll want to know about.
ETH formed a Bear-Flag pattern back in January that looks EXACTLY like the one we are in RN.
So what happened back to the last BF?
- ETH smashed into the topside BF resistance & LT downward sloping TL ON Apr 3rd
- After being rejected, ETH broke BELOW the 9EMA & got crushed by it (sound familiar?)
NOW HERE'S THE IMPORTANT NEWS. On Apr 29th the 9EMA crossed BELOW the 100EMA, sending price -69.37% lower to the June bottom.
That's right, the 9 crossing below the 100 smashed ETH to a pulp & ETH could not get back above it until June!
So why is this important for today?
- ETH smashed into our current BF resistance channel & LT downward sloping TL on Aug 14
- We've been struggling to get above the 9EMA ever since
The 9EMA JUST CROSSED BELOW the 100 on Sep 21! Is history repeating itself here?
The crazy thing is that, if price dropped similarly to May, that would line up PERFECTLY with the Bear-Flag measured move target of $400ish!
Don't sleep on this folks. I've been telling people that the ETH-merge was a sell-the-news event since late August.
ETH formed a Bear-Flag pattern back in January that looks EXACTLY like the one we are in RN.
So what happened back to the last BF?
- ETH smashed into the topside BF resistance & LT downward sloping TL ON Apr 3rd
- After being rejected, ETH broke BELOW the 9EMA & got crushed by it (sound familiar?)
NOW HERE'S THE IMPORTANT NEWS. On Apr 29th the 9EMA crossed BELOW the 100EMA, sending price -69.37% lower to the June bottom.
That's right, the 9 crossing below the 100 smashed ETH to a pulp & ETH could not get back above it until June!
So why is this important for today?
- ETH smashed into our current BF resistance channel & LT downward sloping TL on Aug 14
- We've been struggling to get above the 9EMA ever since
The 9EMA JUST CROSSED BELOW the 100 on Sep 21! Is history repeating itself here?
The crazy thing is that, if price dropped similarly to May, that would line up PERFECTLY with the Bear-Flag measured move target of $400ish!
Don't sleep on this folks. I've been telling people that the ETH-merge was a sell-the-news event since late August.