Chart highlights similarities between ETH 2021 and SPY 2008, which are listed in details in previous post. timeframe, scale, % change are completely different between two charts.
What am I watching?
1. 50 Daily MA. Is price going to close above it and above first orange trend line? If so, these two charts start to vastly diverge, and these analysis can be scrapped.
2. 200 daily MA. If it’s broker to the downside, Based on SPX chart, price could bounce back to 200 MA, then down we go? What could push price so low? My guess it’s the leverage that marked participants use via stablecoins to buy Crypto.
This is not financial, investing, or trading advise.
What am I watching?
1. 50 Daily MA. Is price going to close above it and above first orange trend line? If so, these two charts start to vastly diverge, and these analysis can be scrapped.
2. 200 daily MA. If it’s broker to the downside, Based on SPX chart, price could bounce back to 200 MA, then down we go? What could push price so low? My guess it’s the leverage that marked participants use via stablecoins to buy Crypto.
This is not financial, investing, or trading advise.
