It's that time again in the crypto boom cycles, and we're anticipating a new Megabull heading into 2024!
#Ethereum is exhibiting relative bullish strength (as indicated by the yellow arrow, similar to 2020) after reclaiming the resistance block (seen in red) as support. Similar to the previous two bottoming bull reversal patterns in 2016 and 2018-2020, Ethereum is completing both a:
(1) double bottom at $1,100-$900 and
(2) rounding bottom.
Once Ethereum rallies towards the top resistance of the rounding bottom at $4,800 and successfully backtests it as support, we can expect the megabull to be confirmed, leading Ethereum to rally and reach a peak by the end of 2024 at $10,000-$12,000. This would represent a generous 1,000-1,300% increase from the all-time lows.
Don't forget to like and subscribe, as I'll be publishing more ideas with targets for Bitcoin and altcoins.
Carl M.
#Ethereum is exhibiting relative bullish strength (as indicated by the yellow arrow, similar to 2020) after reclaiming the resistance block (seen in red) as support. Similar to the previous two bottoming bull reversal patterns in 2016 and 2018-2020, Ethereum is completing both a:
(1) double bottom at $1,100-$900 and
(2) rounding bottom.
Once Ethereum rallies towards the top resistance of the rounding bottom at $4,800 and successfully backtests it as support, we can expect the megabull to be confirmed, leading Ethereum to rally and reach a peak by the end of 2024 at $10,000-$12,000. This would represent a generous 1,000-1,300% increase from the all-time lows.
Don't forget to like and subscribe, as I'll be publishing more ideas with targets for Bitcoin and altcoins.
Carl M.
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