Swoop6

Swoop6

Viewing market from here in 2 scenarios 1. either huge bull trap to 40-50k into early next year or 2. It's new Bull.

Swoop6

Viewing market structure currently it looks like we have formed a potential major low and perhaps a bottom - Currently seeing 2 scenarios here 1. New Bull trend is underway and the bottom is in. 2. the first leg down of a larger correction has completed and we're in the start of a large B wave (I have labelled potential bounce targets) however I do see the...

Swoop6

Great project which will play an important roll in the ETH ecosystem - l2 scaling will be the spark for the next crypto bull run imo.

Swoop6

Take your pick here imo - We're in for a huge bounce or it's a new Bull run to new highs.

Swoop6

Blockchain adoption - well funded / lot's of devs / constantly working on improving / great community = Recipe to MOON.

Swoop6

Think we could be shaping up for a big alt run where alt l1s do very well as networks grow due to a rapid increase in blockchain adoption.

Swoop6 Updated 

Fears around a global recession and inflation are running high however I believe inflation is not far off a peak and equities are close to becoming great buys and Gold becoming a great Sell.

Swoop6

Not sure how many sellers are left here but from a fundamental pov this looks like a decent long term buy here imo.

Swoop6

Dear Bears I'm writing this from the future where you have all been rekt, I know I know it's hard to believe with all the bad news out there the market went up! and you managed to miss the bottom...who would of thunk it. So how did this happen?... Well Timmy the same way it always has! We gave you every reason to justify why the markets would continue to go down...

Swoop6

It's looking like we could be at the start of a multi year Bull run and accumulating alts here is likely to pay off long term - The wave count is a visual representation of what I think is going to happen (based off fibs) - Most people now are very bearish and sitting in cash scared to buy - so the bottom is probably in.

Swoop6

Thought I would do a plot of what I think ETH's future might look like - I'm of the belief that ETH is currently the most important asset in the world and is a huge magnet pulling everything of value towards it - The future at this point seems quite obvious as the world is shifting to blockchain - It's only a matter of time until you start seeing important legacy...

Swoop6 Updated 

not really much to say here other than bottoms in and it looks like a good long - could argue some decent fundamentals behind this also.

Swoop6

It's seems that people are under the impression something has changed...when nothing has at all - we have not made a new low under $883~ - I'm of strong belief the bottom is in and we're at the start of a new up trend or a huge bounce regardless - ETH is the worlds most important asset and everything that has some value is gravitating towards it.

Swoop6

Many will instantly dismiss the idea of any cryptos going up anytime soon - however I believe we're in the early stages of an alt season/potential new bull run - this cycle could last years also and new highs will come naturally - ETH is probably the most important asset in the world right now and everything important is gravitating towards it - I believe...

Swoop6

So this appears to be in an extended wave 3 and probably should put a top in over the coming weeks/soon - Also not all moves have to complete in 5 waves so there is a chance that our next top can be the end of this uptrend - I have added a likely area where I think price corrects to once the top of wave 3 is in ( it will most likely be .328 fib of wave 2-3 measured).

Swoop6

Bull trap here imo - expect months down at a minimum - could end up being multi year down.

Swoop6 Updated 

This Correction is coming to an end imo - Look for this to find a bottom sometime this month.

Swoop6

This will be a 1-2month swing or a long term multi year swing - regardless I believe we have a big bounce coming and also the bottom may be in - People are underestimating tech atm which I think will be a mistake.