So far this analysis has been holding up quite well, regardless of the overall bullish sentiment.
We are also hearing more bearish news from the SEC, FED, Binance, Silvergate etc., and see whales taking profit with their spot positions, which continues to add sell pressure on the market.
On a technical side, nothing has changed: We are still following the Nov '22 fractal with somewhat relative precision – although slower and with less severity – and are currently forming a potential wave 3/5 that could bring ETH down into the $1200 USD region.
Expect further down movement until we see a move above $1600 USD that would invalidate the fractal.
We are also hearing more bearish news from the SEC, FED, Binance, Silvergate etc., and see whales taking profit with their spot positions, which continues to add sell pressure on the market.
On a technical side, nothing has changed: We are still following the Nov '22 fractal with somewhat relative precision – although slower and with less severity – and are currently forming a potential wave 3/5 that could bring ETH down into the $1200 USD region.
Expect further down movement until we see a move above $1600 USD that would invalidate the fractal.
