Skip to main content

Posts

Showing posts with the label ETH

Do You Like Bear Bottoms?

 I think we all like the bottom of Bear cycles in the stock market.  I think that's what we are going to see with Crypto this week. Those who are still holding Crypto during this retracement, take heart, we are almost there - or at least I think we are. If you like bear bottoms, this one is for you. It should be the end of the bear market and the start of another bull run. I trade Ethereum (ETH) almost exclusively. Right now I think we are finishing wave 2 of a mini 5 wave down trend. We should finish waves 3-5 probably before next weekend, maybe even by Turnaround-Tuesday. See the attached ETH chart and you'll wee what I mean. Once we hit wave 5, I expect a fairly quick run up from about 1160 to the lower 3000's. Put in $1000 and pull out $3000 a couple of months later.  Not bad. As long as ETH stays above $1000 we should be good. If it breaks $1000, that's bad news all around. That means we are going to be setting a new low for ETH and it means the Bear market i...

Etherum on the Move...

Artwork by Steven Grundy What, more Crypto talk? Yes, sorry, more crypto talk, but I'll try to keep it short. Back on July 16th I said that I thought the bear market had ended that day and we were starting a new bull market. Only time will tell if I was right because we haven't had enough time to call it a bear market. But, in that time, Ethereum, the bellwether coin that we measure with, is already more than 50% from that date and 120%+ since June 16th (2022). There are a lot of coins that did better than that, but for a "safe" bet like Ethereum, that's a really nice move. But, it's not too late. Ethereum makes a change on September 26th that will dramatically improve it's capabilities. I think we are going to fairly quickly see ETH return it, and pass it's all time high of $4891.70, maybe even before the end of the year. Now there is always the chance that ETH, and all coins, will turn around and head back down for a test of the low of $876.54....