Thread by @jackis_trader

#ETHEREUM outlook - THREAD

I think a lot of people tend to overcomplicate things

We gotta stay true to the basics & those are that we are still in a healthy bull market. This is not hopium, it's what it is

Price only came back to retest the previous supports and reacted nicely

This is obviously very bullish and if this would be your favorite #altcoin on the hourly timeframe you would be buying with haste.

The problem is this is not an hourly timeframe but a weekly and that takes time to play out.

However, most people truly are zoomed in on the hourly and they sell right into the big support when the market is in FEAR and that's never a good play.

Now I'm not saying we cannot go lower. In markets, we must remember anything can happen at anytime

You never know when some Elon tweets something & the market turns into turmoil

But until that happens we must play the chart as it is & that right now is giving me a clear signal

So what do I expect to happen from here?

Well, such a big drop - 70%, is truly a big one and doesn't happen often. However, historically buying at such drops has so many times proved to be correct decision in the long run.

With that in mind, I do not expect us to shoot straight back to ATH. No. I think such a drop will take some time and create a range that could take a while.

Possibly say 3-6 months before further upside but timing is just for your orientation and is hard to predict.

It all starts with the daily breaking 3000$ which would be a nice lower timeframe confirmation and from there I'd expect a move towards the resistance at 3700$

This is my current outlook and I gotta see when, how, and if we get there.

If we do I'd expect further range to unfold

It's important to keep the bias out of the charts especially in such crazy times where a lot of emotions from inside & outside are coming at you.

This is my clear look at the market.

Hope you have found this outlook valuable & it's gonna help you make better choices.