$ETH and other Crypto: Best to stay on the sidelines for now
It has been struggling of late here the last couple weeks and more times than not leads to a dump in the market.
if we close under $220 on the 2 day chart then $144 is very possible.
I have marked an area between 25th of Feb - 2nd of March at which where I believe we are in the market.
The MFI and RSI structure is similar during that period and the MFI heading south, which is an indication that less Money is pouring in. We also have the StochRSI similar meaning being deep into oversold.
At the end of the day the chart is given me the news. Who really is buying crypto now with all these Job Loses and uncertainty. The amount of Fiat people are saving right now has been going parabolic and we are in survival mode.
So based on the above I believe we are looking at 50% decline.
This is my opinion on how I read the charts ... sorry I am not always bearish, but we are in bearish times
if we close under $220 on the 2 day chart then $144 is very possible.
I have marked an area between 25th of Feb - 2nd of March at which where I believe we are in the market.
The MFI and RSI structure is similar during that period and the MFI heading south, which is an indication that less Money is pouring in. We also have the StochRSI similar meaning being deep into oversold.
At the end of the day the chart is given me the news. Who really is buying crypto now with all these Job Loses and uncertainty. The amount of Fiat people are saving right now has been going parabolic and we are in survival mode.
So based on the above I believe we are looking at 50% decline.
This is my opinion on how I read the charts ... sorry I am not always bearish, but we are in bearish times
