🔴 HUGE ETH UPDATE!!! 📈 ETHEREUM BOTTOM IN (FOR NOW!!)!!!! CRYPTO CRASH BOUNCE LATEST!! (ETH price)
My latest predictions, the trade that i have over on buybit right now, were going to get straight to it just after everyone as usual. Your support is amazing, smash the like button guys when you hit the like. It really helps and make sure you have that bell notification turned on and youll subscribe for future videos. So what weve seen in the last 24 hours, bitcoins up four percent ethereums up four and a half percent still down for the week, but weve made some uh recovery. You could say that because actually, over the last couple of weeks, a couple of months, its just been a bloodbath as you know, but nonetheless, like i said, i want to start things off on this weekly chart to show you the similarities im seeing to the previous Bull market top then bear market to exactly whats been going on now in the latest: bull market, that kind of finished november, 2021 and obviously now weve had this big decline so far were down in price about 72 percent. But look at this. I find this really interesting when you have a bull market peak kind of a blow off top. You normally have something whats known as a dead cat bounce, and this was this in terms of a high to a low in fact lets zoom in here and get our dates. So what youre? Looking at here january 2018, you had this huge sell off and the percentage the drop was approximately 73 percent for the ethereum price.
If we go over to our pr our most recent peak back in november 2021 to the bottom, we came down uh as much 82. Almost weve come down and now were down about 74 75 percent, very, very similar to the big drop we had. It doesnt look as much because its smaller prices, but its around the same percentage in in relative percentage terms, and following that we got a bounce off of that and we actually rallied a huge amount of 117. So could we see something similar? You know you you have to bear in mind when you come to these lower prices to get a huge return like 100 plus isnt as difficult when youre up here, because the prices are lower. So we could rally something similar. In fact, if we were to rally 60, it takes us up to a key weekly level. If you rally up to kind of the same percentage times, it takes you up to the major resistance of the of the decline, so that 1 950 mark would be significant resistance. Ive just seen these similarities just wanted to talk to you about it. Before i discuss the key uh levels on the smaller time frame, something to bear in mind the summary of that for me again just before i go into the smaller time frames guys is that, yes, we may see a relief rally now we could be at this Phase in the cycle where weve come down weve reached our local bottom were going to see a relief rally, but the balls wont be strong enough and were still yet to see uh another 90 decline from where we come up to so lets say we do make It back up to around 1 950, not saying thats going to happen, but by going by previous uh ball bear markets that is possible.
You could still see something like an 80 decline down to the month, level, 360 or potentially slightly lower. Obviously, a lot of support at that 360 level and my ultimate bear market target for ethereum is between 350 and 450 dollars. But in the short term we could be seeing a relief rally here, and this is why yesterday i was saying dont fomo in just yet there are some key levels. We want to look at so lets zoom in here for the ethereum price, shorter term price action. Key levels that you need to know before buying selling trading right now and just to let you know, i do have a trade open on uh buybit with a bitcoin at the moment, um that current position is in profits, the one i opened up yesterday, just so An update on my trade here, of course, guys. If you want to trade with me, you can open up a buybit account. Four thousand one hundred dollar bonus for free or you can check out the bitget account and you can get five thousand dollars. The four thousand one hundred dollar bonus with buy bit. You get thirty percent of trading fees as well, so you can check out both platforms or decide which one suits you better. I trade on both uh thats, my bit get one and buy bit. Is here check out tutorials in the video description down below so looking at ethereum? These are the key levels guys.
What were currently seeing is support at 1 125. We have resistance at 1 236. So this is the channel that im currently focusing on on ethereum and its a 10 move. That 10 range is very, very tradable and in my opinion, we are likely to see some sideways action within that range for some time. Whilst we decide if were going to break up or if were going to break down now, just above that 1235 level, we have a weekly level of resistance, which is super strong, its a 1400 move and at some point or another, i am anticipating the ethereum price To rally to that price, but it might take some up and down price action before that, so you can decide whether you want to treat this as kind of a scalp trade up and down this range between 1125 and 1230 or youre going to stay in it. For sort of more the short midterm up and hold out for about 1400 ethereum now, of course, thats not set in stone, we could break to the downside, but bear in mind. Not only is there 1 123 support on our daily theres, a monthly support level of one thousand one hundred dollars and the significant thing about one thousand one hundred dollars its also uh pretty much the the uh, the high of the previous uh bull market and the Start of the decline of the bear market 2018, so that should uh be a significant level of support as well guys, so be very, very cautious of that level.
Um. If youre shorting, you want at least a daily close below eleven hundred dollars. If youre going to shore, if we get that daily confirmation, sure you can short down to the next daily level, which is uh 990 dollars, basically beyond those levels by zooming out a bit further, you can see that um ive got these levels, mapped out, feel free To pause it take a screenshot leave a comment while youre down there, of course, as well and smash that, like, if you havent already, but these are the next levels if we break the scary thing is: if we break 990 dollars and we lose the previous bottom, Which is set at 925, you know we could be set for a huge uh sell off once again, but my opinion, my prediction, if you like, is from this point on, we will get this relief rally that ive been talking about for some time, and i expect The relief rally to come to at least fourteen hundred dollars in the sort of short midterm ie the next few weeks and over the summer i wouldnt, be surprised if ethereum gets back to 1 950, but i dont think were out the woods. I still think its a deeper bear market thats going to last at least another 9 12, possibly 18 months, so guys. This is the perfect time to be a trader of course, like i said, uh links in the video description, so you can get your free crypto to try these platforms out with no risk four thousand one hundred dollars on buyback five thousand dollars on bit get links In the video description, any questions leave them in the comments.