🔥 Ethereum Falling Like A Brick: New Lows

Around two weeks ago I made an analysis on ETH. In this analysis I celebrated the successful trade that we took, as well as the notion that we'd see 1-2 weeks of consolidation before targeting the $1800 area again (and potentially going lower). The latter has now occured.

As of recently, ETH is quickly losing value against BTC, which has happened across every bear market since ETH's existence.

In my view, we're due to a further sell-off in the crypto markets. For the coming week(s), I'm expecting ETH to make a push towards the $1300-$1400 area, potentially even lower if we see some kind of capitulation event.

Be aware that we've to make a close below $1800 on the day first before triggering this trade.