Approaching a critical point in ETH
A little update on the Ethereum prediction. It is going as planned for now and the bullish scenario is going smoothly. We're approaching the 1.618 Fibonacci retracement (relative to 2018 ATH) as ETH now trades above $1,900. However, the rising wedge forming, usually a sign of a trend reversal, could be problematic. Once we reach that level, it could reverse or continue (as always haha). Scenario 1 would see ETH continue its bull run, probably in a dramatic fashion, or we could see a good pullback towards the lower levels that haven't been tested yet (scenario 2). The pullback could happen just before that level as well, maybe around $2,000, as ETH and many cryptocurrencies are overbought.
Whether 1 or 2 happens, it screams bullish. A pullback is healthy and welcomed, but if the bull run continues in a stable manner, I'll take it as well!
That's my opinion, what's yours?
Whether 1 or 2 happens, it screams bullish. A pullback is healthy and welcomed, but if the bull run continues in a stable manner, I'll take it as well!
That's my opinion, what's yours?
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