D4 wanted to give you a quick update on what ETH has been up to. We are not taking a look at the 1D ETHUSD Chart.
Looking over the week or two, Bitcoin is almost certainly going to hit that 6,000 USD - or even maybe 5,000-level. What does that mean for Ethereum? Well, you guessed it my friend! It's gonna go down too. And as always, it will do worse than BTC .
But there is a bit of light in the darkness though. D4 wants you to notice how ETH is oversold on the daily , so we can expect it to bounce up a bit! YAY! :)
But up how much then? Well, as said, BTC is not gonna let it party too much. If Bitcoin will manage to go to 7,8xx USD, as it seems like at this very moment, we will probably see ETH go up to 424 USD, where we have resistance, that is also is a Low Node (L.V.N.)
Looking at the chart I see everything clearly. First we will slam our head into 424 USD, and then bounce back down to the black dotted line, which acts as HUGE support. 2 reasons - Firstly it's 78,6 % retrace and secondly it's Point of Control (P.O.C - the longest node on the ).
That's all I had to say about ETH for today. Don't panic. Markets have to retrace. Be patient, and you'll see it reverse before long.
D4 loves you <3
Please give a like if you think ETH needs some encouragement today! Thank you, my friends :)
I will come up with a VERY interesting chart soon, which shows that ETH will take over from BTC.........
Stay tuned <3 Please give a LIKE and some LOVE!