Right now, most people are anxiously awaiting the markets to make a decision. I wanted to make a short post showing where we are, how we got there and hopefully where we are going and where we aren’t. To get a macro sense of where we are headed, let’s zoom out and draw some lines. If we start at the earlier low in the summer down around the mid $1700s, and take that point all the way to our most recent ATH, we get a set of Fibonacci lines.
Our most recent lows have brought us down to the 0.618 at $2423. While we indeed wick lower, we did manage to close every day at or above this line. That’s the sweet stuff right there, and we really need this to hold.
Hey down here!
Let’s get the worse case scenario outta the way right now haha. If the markets react badly to the FED meeting tomorrow and the geopolitical situation in Europe worsens, shit is going to ever loving proverbial fan as ETH drops down to the key 0.786 support level at $1768. Please keep in mind this is a macro assessment. There are a couple micro fibs in there but I don’t want to draw too many lines today haha. If that doesn’t hold expect ETH to come back to around $1000. Man, that would be a primo buying opportunity!!
Look, up in the sky!
Should we get good news over then next few days, expect ETH to start trending up. First stop is the 0.5 at $2883 . Breaking above this will confirm to me that we are headed up If we get rejected r elect a retest of current support before making another move to the upside. Key levels to look for after that
- $3343
- $3912
- Passing the previous ATH and up to $5226
That’s a wrap
At the end of the day, I am super bullish on ETH. I know, ETH killers and all that good stuff. But I don’t see them being a threat for superiority to be truthful. Also I feel that Ethereum has sort of a first mover advantage in the world of DeFi, much the same way Bitcoin does in the realm of crypto. Feel free to follow me and hold me to this prediction but I don’t think the bull run is over quite yet and I see ETH reaching 10-15k during this cycle! That’s right, I said that!!
That being said, ETH won’t begin its ascent to glory for a few weeks. There’s too much nastiness in the world to be ignored and I feel a huge capitulation coming. After this FED meeting (FUD MEETING?), I am expecting ETH to dive down towards the 0.786 to that $1768 mark! How close it gets there is yet to be determined. Again, feel free to follow me just to come back and say that I have more shit with me than a Christmas turkey! The good news though is I think once we do flush down to that mark we will see a huge, fat,green candle to the upside!
That’s it for me. Good luck, stay strong and keep that chin up! We will get through this with our tits jacked and our nuts racked But listen, this is not financial advice so don’t take it that way! I’m just some working shmuck like most of you! This is just my opinion and that’s it. If you enjoyed this stor sendi me a like and tip the slider, and consider following along. I write about everything from crypto to price action with some personal experiences also. There’s a few referral links as well, they might come in handy.
Peace!!
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Ethereum (ETH) Address: 0xced0CdCe2DCd04761B87196E703638D42411F91b
USD Coin (USDCMATIC) Address: 0xced0CdCe2DCd04761B87196E703638D42411F91b
my crypto addresses are the same in my Ecodus wallet. See? Lol
Amp (AMP) Address: 0xced0CdCe2DCd04761B87196E703638D42411F91b
the only different ones I have are BTC and ADA
Bitcoin (BTC) Address: bc1q7tpn65765zuvcrcegcq7q0vpy7du085w0vncjz
ADA
addr1qxm2ravuq8fmh5enexuvtqawl24ghvqptdrxu6r9s2lq8ccuttv3kvmzmxmnml2vueh8zqvymxfxvra636t22vdadjhqynfcvs
