Crypto Bottoms 1: ETHUSD Daily
There was a time shortly after Sept. 12 (circled) where the ensuing rally, with increasing volume, made things look like the bottom was in. However volatility and price action has more or less flat-lined since then which makes me think we'll come down for another test of the red trendline.
My best midpoint projection here comes from the 838 high and triangle breakdown midpoint around 468, suggesting a low of just under 100. However that's an additional 50% crash in price from current levels!! That's hard to imagine since we've already been in such a long and drawn-out bear phase. But then again, this is crypto!! I've noticed on numerous other midpoint projections recently that price doesn't quite reach the target but rather turns shortly after piercing the 23% level (see linked idea). As such I'll be considering long positions anywhere under 150 and adding all the way down to testing the 100 level.
As long as we see no steady price action under the red trend line, I still consider the sell-off since January this year to be a bearish correction in an overall bull.
My best midpoint projection here comes from the 838 high and triangle breakdown midpoint around 468, suggesting a low of just under 100. However that's an additional 50% crash in price from current levels!! That's hard to imagine since we've already been in such a long and drawn-out bear phase. But then again, this is crypto!! I've noticed on numerous other midpoint projections recently that price doesn't quite reach the target but rather turns shortly after piercing the 23% level (see linked idea). As such I'll be considering long positions anywhere under 150 and adding all the way down to testing the 100 level.
As long as we see no steady price action under the red trend line, I still consider the sell-off since January this year to be a bearish correction in an overall bull.
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