ETHEREUM FINAL LEG DOWN
Yeah! the price falls are demotivating, so many smart traders losing money yet no one is giving up just yet, everyone has hope that there are better days to come, of course, this is me thinking out loud. The vision of crypto is so versed that the price shake outs should be seen as motivation. Asides from the bad press news about regulations, scam ICOs, and end of crypto what else could make you still believe in crypto if people like tom lee and Micheal Novogratz got the bottom wrong, what then is the bottom of these bear market or are we headed for doom? We worry so much because some have given up everything for crypto like me, it's fun, though I am still head above water am sure most have gone solvent and are quitting crypto right now even the smartest ones , I think for one thing don't just depend on trading try other blockchain related revenue generation avenues like development , research, education etc, Am sure during the last bear market that is how most OGs survived it , they built real businesses around the technology not just waiting for the price to rise and sell high.
Ethereum seems to be in a falling wedge pattern, and the recent price collapse seems to have found temporary support at the bottom of the support trendline, favorable supports am looking at are $121 and $101 here are the prices I will be looking to buy spots on and store , then make a margin long . The falling wedge should break before it gets to its apex, according to Bulkowski's study, it should break up 75% to the apex and we are currently at 65% to the apex so it is expected to break within the next three months before March. Coupled that something from the dev team about scaling should be out by Jan next year and Bakkt has moved some of their product lunch till Jan. , it is expected that Jan will be a good time to start averaging in back to crypto. Nov/Dec is a period of holidays and book closing for companies, cyrpto companies will be looking to sell some crypto for cash and ICO companies too will be looking to close their books for the year and start planning a new strategy for next year, these means spending and that means selling crypto assets for cash, in general, these last two months of the year we should generally see major price declines it will be wise to watch for the final dip before buying.
Cyrptocurrencies are new asset class so there are no perfect models to interpret the current events, Nearly ten years and still evolving. It is right to consider it with every information we have in our arsenal.
Ethereum seems to be in a falling wedge pattern, and the recent price collapse seems to have found temporary support at the bottom of the support trendline, favorable supports am looking at are $121 and $101 here are the prices I will be looking to buy spots on and store , then make a margin long . The falling wedge should break before it gets to its apex, according to Bulkowski's study, it should break up 75% to the apex and we are currently at 65% to the apex so it is expected to break within the next three months before March. Coupled that something from the dev team about scaling should be out by Jan next year and Bakkt has moved some of their product lunch till Jan. , it is expected that Jan will be a good time to start averaging in back to crypto. Nov/Dec is a period of holidays and book closing for companies, cyrpto companies will be looking to sell some crypto for cash and ICO companies too will be looking to close their books for the year and start planning a new strategy for next year, these means spending and that means selling crypto assets for cash, in general, these last two months of the year we should generally see major price declines it will be wise to watch for the final dip before buying.
Cyrptocurrencies are new asset class so there are no perfect models to interpret the current events, Nearly ten years and still evolving. It is right to consider it with every information we have in our arsenal.
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