Ether falls below key level - game over? Also VAR

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
What's up everyone,

Ether has fallen below the key volume support level and price wise, there isn't that much supporting it. Basically, what I am saying is that there is no reason for me to believe it cannot reasonably go to zero. If it does turn around, it needs to do it quick because it's about to break a new low that it set over a YEAR ago. To put that into perspective, it would be like bitcoin breaching $2,000. Ether is in serious trouble - but my recommendation to buy at a weekly close green ashi remains valid. I will update everyone on that though as we move on.

Overall it's like this: either the crash is over in crypto - and that's possible, I recently saw an interview where Vitalik was like, "yeah, this thing has peaked." As a contrarian, that is an exciting claim because there could be a buying opportunity soon. That, or, it's still got a ways to go. If this crash is not over, I am expecting $70 ETH. Below that I am expecting around $0-7 ETH. Bitconnect still has a pretty damn high valuation, so Ether will too even if it dies, but more or less the price will be $0 relative to whenever you bought it.



I have made the assumption that Ether volatility is 6%. This is slightly more than bitcoin which seems reasonable enough to me. Here is the calculation:

low: $ 108.3813222746653
high: $ 235.61867772533472

We are 99% likely to trade in this range for the next 7 days.


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Based on my fib. I had a target at 172, where I went all in (all the fiat I had to spare at this time). I am planning to ride it for first profit to 300 with a SL at 180. Now, this is not trading, this is gambling and I am doing it perfectly understanding this is rather moronic from me xD I just like to bet in such occasions like the one appearing with ETH price in 2018. One very interesting observation is that the last bear cicle was ~260 days where prices saw a decline on avg. by 86%. Now we are in the same spot, just one year later and the decline was 88%. Now, I am not saying we will have new ATHs all over the market, but this is rather interesting observation...
YoungShkreli cryptozwerg
@cryptozwerg, Indeed.
digikv cryptozwerg
@cryptozwerg, bravo
+1 Reply
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