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without_worries
May 23, 2022 3:51 PM

Ethereum to $800 Short

Ethereum / DollarBitfinex

Description

Why?

1) That ‘incredible sell’ signal way back. That was the sign Ethereum was cooked.

2) A death cross just printed on the weekly.

3) The head and shoulders pattern confirms breakdown.

Why $800? Because that’s the golden ratio that stopped the last sell off, which is measured from the break of past resistance to new market top.

Is it possible price action prints a higher high this year? Sure.

Is it probable? No.

Stay safe!

Ww

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There’s some resistance to this idea from the comments below and private messages received telling me ‘I’m wrong’ etc..

Maybe. I don’t know, don’t really care. My ideas are shared much for my own benefit / record keeping.

As to whether this is right or wrong. Try and not think about like that, rather, think about what is probable versus possible. Anything is possible.

A 3-day death cross is approaching with a projected crossover on June 30th. Price action dropped 80% at the last cross. You think this time will be different?

If history repeat price action will fly past the target to $500.

Emotion… it’s a money killer.


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Comment

Price action lands on the 200-week SMA. I'm told this is the level that will save the bulls.

Do you see a buy signal? No, neither do I. Jumpsuit on.. parachute optional.

Comment

$200 to go! Seems the 200-week MA was irrelevant.

If $800 fails look for support around $420. There's no more support until that level. If $420 fails, $130 it is.

Comments
DarioImex
@without_worries, Per Coinmarket Cap Eth hit $897 on June 18th. I'm calling this idea On Target, one more for the record books. Thanks for all your insight.
without_worries
@DarioImex, Thank you! I'm not convinced the bottom for Ethereum is in, unfortunately. The month of December is usually a good time for Ethereum.
Brewcrewzz
this is the dumbest post of the day..
without_worries
@Brewcrewzz, If I'm dumb, are you dumber? Down 30% since you wrote that comment.
Brewcrewzz
@without_worries, nah you still be dumber bro.
without_worries
@Brewcrewzz, ;-) Dumb for win!
dualmass
@without_worries, How about your 24k Bitcoin Long idea??!! Now thats pretty Dumb!
fadz911
@without_worries, :))))))))))))))))))))))
dualmass
@Brewcrewzz, his ego is so paper thin, his understanding even thinner, Poor kid
without_worries
@Brewcrewzz, This post just gets dumber by the hour...
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