Fed's Tightening of the balance sheet will put more pressure on the crypto market and the stock market, Don't fight it! in today's trading session we are monitoring Ethereum for a selling opportunity around 1550 zone, once we will receive any bearish confirmation the trade will be executed. trade safe, Joe.
@aj_texas 20,000, though I believe it's eventually going to fall to around 12,500
Craig-in-Naples
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@Blakberi, possibly even $800. Whales dumped on Uni down to $850. In a bull market, flash crashes are often manipulations in order to buy the stops for a V shaped continuation to the upside. Not here. Whales want their fiat back, which means they likely expect (or will wait until) ETH is under their sell price (<$850), otherwise (if they were smart whales that sold - and we can see from onchain analytics that whales can be a stupid as anyone else) they'd have sold in a sideways distribution channel using sfox.com or something (there are services that specialize in this for whales).
aj_texas
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@Craig-in-Naples, @Blakberi do you think eth will break below 850? If so, what timeframe? Some of my sources say mid to late July
Blakberi
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@aj_texas pardon me, I thought this was btc. I don't do TA on ether
YMGroup
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exceptional work you are doing for ethereum analysis, I also have the same view and think it will go down
Craig-in-Naples
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The few that have made correct opinions are not using geometrical patters but rather macro-economic factors. Because they're smart enough to realize patterns cannot be trusted during times of economic and market condition transitions. Your input is uniquely valuable, thank you for sharing I'll be following you. Also, have a look at the GDP vs Stock & crypto market caps - it's been the most accurate prediction model I've found. Our stock market is like 3x the valuation of our GDP. WTF. And then when you add the crypto market to the stock market and look at overall GDP, you can see what delusional bubbles we created and that the valuations we've grown used to are based on complete fiction due to the stimulus checks and feds pumping money into the economy. These bubbles are way way overdue for bursting. If there ever has been a time in the last 13 years to panic - now is it folks. This will be as bad or worse than 2008.