ETH - The most bearish pattern is confirmed!
- This is a very bearish 3-wave corrective pattern (WXY) double ZigZag. This pattern is now confirmed, and ETH could drop significantly!
- It's not looking good for ETH at all. The bear market is strong, and ETH can potentially reach levels below 1000 USD.
- The most important yellow trendline has been destroyed by the bulls, and the bears are back in full force!
- I recommend longing ETH at the 0.618 FIB for quick gains. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- The ECB (European Central Bank) recently warned us about a massive crypto crash; this could be true.
- 1235 USD is a key level, and the bulls weren't able to sustain it! This level was important because it was the peak of the first wave (W). The possibility of an impulse wave has been invalidated for good.
- I hope you guys are doing great and take care!
- You must look at my ideas about Bitcoin, Gold, EURUSD, and Oil in the related section down below.
- For more ideas, hit "Like" and "Follow", right now!
Comment:
If something bad happens and the crypto market crashes again, ETH could reach 246 USD in the worst-case scenario. I am not saying this is going to happen for sure, it is a possibility. At the level of 246, there is a unfilled GAP, which is the last GAP that "may be filled." I will be a huge buyer at this level.
