ETH Bull Flag Takes Price to $1,825, then Down to $515

29 Eki 2022

Here is exactly how things could play out!

ETH just broke out from the prior daily range high at $1,400 and is showing great potential for short to medium term continuation~!


Price is currently forming a bull flag. 


The measured move for the bull flag takes price to $1,825, which is about a 17% increase in price from now. The target of the measured move has confluence with strong horizontal support as well as a strong macro diagonal trend line. 


Macro Diagonal Trend Line


If price is rejected around $1,825, then I would be looking for a move back down to the weekly range low around $1,225, with continuation down to around $515 - $600. I suspect this would be the macro low of the current bear market! 


If price breaks down from the symmetrical triangle, then I would be looking for the 5th Wave to take price all the way down to $515 - $600! A drop from $1,225 to $515 would constitute an approximate 59% price decrease. 


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Anyone else see a $500 -$600 ETH prior to the end of this bear market? If not, how do you see things playing out?  

Let's get this crypto! 

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Not financial advice. Do your own research prior to any trade or investment!

30 Eki 2022

Not

Every setup should come with an invalidation. This setup will be invalidated with a weekly close above the prior weekly high at $1,765.

If we get a weekly close above $1,765, then I am looking for a macro move to the upside! I will be posting a ETH bullish scenario next week!