ETHUSDT Approaching Mother of All Downtrend Lines

With the recent Bullish move we have experienced across all markets, we find ETH approaching the major downtrend line for this current bear market. The last test of the Trend line occurred March 22', which then resulted in a major rejection sending ETH into a long term correction. With the overall economic state of the Global Markets it is hard to be bullish here, numerous outside factors weigh down this short term trend reversal. Over the next weeks I will be monitoring closely ETH's PA and how it reacts to the overhead supply and test of the major downtrend line. If we see a break of the major downtrend, we could be looking at a short term Bull Cycle for Q1 of 2023. With that being said there is still a great deal of turmoil for the markets to go through before we are back on the path for the next full Bull Cycle. If we do see a break above the downtrend line, I will be looking for short entries once buyers are exhausted (Watching $2100-2200 Zone for Short Entries). But for the meantime my team and I are watching the PA for possible rejection and short entries off of the major downtrend line. None the less ETH is our favourite long term coin, we have been continuously buying and adding to our spot positions throughout this whole bear cycle and do not plan to stop anytime soon. But with all factors considered we strongly believe you will have another opportunity to load your ETH bags under $1000.

Know your limits and Trade within it.

*Not Financial Advice*