#ETH
Greetings, everyone!
In July and August, many started talking about a reversal and the beginning of a new bull cycle. But I held a different view: this isn’t a reversal yet, just bait for those who already believe the uptrend will continue.
Let’s remember last year: new highs, euphoria, and then Bitcoin fell by more than 30%, from $126,000 to the $86,000 zone.
If history repeats itself, a 30% drop from the current $87,400 would bring BTC to around $61,000.
Ethereum is showing an interesting picture too. A potential “head and shoulders” pattern is emerging, though it’s a little wonky 😅. The right shoulder hasn’t formed yet, but if ETH fails to hold above $2,300–2,320, the pattern could play out, with a target of $2,040–2,080.
A move above $2,320 would mean we need to reconsider this scenario.
DYOR
Greetings, everyone!
In July and August, many started talking about a reversal and the beginning of a new bull cycle. But I held a different view: this isn’t a reversal yet, just bait for those who already believe the uptrend will continue.
Let’s remember last year: new highs, euphoria, and then Bitcoin fell by more than 30%, from $126,000 to the $86,000 zone.
If history repeats itself, a 30% drop from the current $87,400 would bring BTC to around $61,000.
Ethereum is showing an interesting picture too. A potential “head and shoulders” pattern is emerging, though it’s a little wonky 😅. The right shoulder hasn’t formed yet, but if ETH fails to hold above $2,300–2,320, the pattern could play out, with a target of $2,040–2,080.
A move above $2,320 would mean we need to reconsider this scenario.
DYOR
