On the 10th of June I wrote this article calling Ethereum down to around $1000.
Then it was $2543:
Now it is $1894. (I hope that was useful for my readers.)
Now we are here:
You will find it hard to find a more bearish looking chart.
My standard projection for such a move is:
Which I find almost to striking to believe. However you don’t go throwing your tried and tested tools away just because they come up with a wild prognosis.
I don’t wish to repeat my previous article and I am writing this because I think this chart is showing you we are on the edge of the final leg down.
FOMO is over, the meme mob is in abeyance and the ‘powers that be’ are in crush crypto mode. They wont crush crypto and they will divert their attention to other matters as soon as the crash is over because the ‘job done’ flag will be waving and they will get on with regulating the next firestorm of which there will be no shortage of in the post-covid world.
Bitcoin is on the same path but an optimist would still be praying for salvation from the next leg down.
..but this is what I project will happen next.
Then to me the crash is over and will be followed buy a long period of sideways trading where investors should dollar cost average in to toward the next ‘halvening’ and boom cycle.