eth is poised to go below 2k into january.gm,
as we near the holidays, and many people begin to believe that the bottom is in,
i see a scenario that few are discussing.
all i hear these days is how qe is beginning, how rates are getting cut, and how crypto adoption is taking place globally, but the price action does not reflect this sentiment, yet.
the main reason for this, in my opinion, is i believe we're in a corrective move; specifically, the 4th wave, of this 5 waves down from the recent all time highs.
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4th wave are categorized the moves which trap the most amount of traders. they create uncertainty, after an already long downtrend, and people start entering into a state of hopium \ complacency one final time before the last flush out takes place in the trend.
that flushout, is designed to push all of the complacency and hopium out of the market by a large institution, who preys on the stops + liquidations of the small traders for liquidity purposes.
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which brings me to my point here;
i believe ethereum will sweep the november low one more time, before some sort of sustained uptrend begins. whether that uptrend will be corrective, or impulsive will be determined by how we begin to come up. i have a few theory-crafts about what this move down could be, and even how it could be marking the end of a flat, rather than the beginning of the highly anticipated bear market that everyone keeps talking about.
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🎯 = low 2k region
