I See crypto $ETH in a symmetrical triangle as its consolidating from the big drop after hitting its All Time High of $4,000. A symmetrical triangle favors (but doesn't guarantee) that the trend will continue in the previous direction. Taking into account other global macro conditions, the $DXY surging, Gold dropping, etc, my bias is that ETH will break to the downside and hit $2000 Target A, then $1500 Target B over several weeks. Of course im open to a potential scenario where the opposite occurs and we break upwards, and have labeled those potential upwards targets as well and will reposition to go LONG if that occurs.
This is not financial advice, do your own research.
This is not financial advice, do your own research.
Comment:
Target A $2000 reached on downside, so far so good. I expect a bounce here to digest the downside move and consolidate, then head further down to Target B of $1500