Looking at the , you can see that it projects a price target, FOR A CORRECTION TO IT'S FULL POTENTIAL, right near my triangle target. Therefore, it looks like the most likely scenario, is that ETH finds resistance at this heavy just above, and breaks down from the , destroying the bulls in the process. If ETH breaks above the resistance levels, I will have a whole new opinion on the forward path of this market. However, that evidence does not exist yet. All I see, at the moment, is a lackluster bounce, with plummeting , into a consolidation. Perhaps, my triangle target is still on the horizon. The only thing that will make me take it down, is a powerful break above the overhead resistance levels.
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Volatile week coming up, could be an interesting week to test this idea. It does make intuitive sense, as when investors couldn't find anywhere else to put their money they put it into more riskier assets, and now that selling has occurred in less riskier markets, money is being taken off the table in the crypto-sphere.
In my eyes, $ETH is neutral territory but weak and wounded. Each day that passes it eerily starts to look like $BTC. If it breaks and holds 900$ in the coming days.... game over, you can name your support levels but I think it crushes right through them and 500 wouldn't be out of the question. I think $ETH will turn bullish if it clears and holds 1075$
And it is totally centralized and dependent upon EF.
Bitcoin, however, depends upon no one.
But this is my view. Maybe it turns into something great but it's too speculative for me and I prefer Bitcoin as it is just a simple leger and thus the most secure.