I have been so clear about being bullish... The target range for ETH is 5300~5700, what more do I need to indicate? Besides ETH, other altcoins will also see significant increases. XRP and PENGU, which were all the rage in July, will also rise again. I will update other quality targets and points in the small group.
ETH has been in a consolidation phase since August 25. Despite its ups and downs, it essentially remains in a consolidation. From my perspective, the ETH market is not over yet. This also indicates that many people were indeed trapped at the high point in 2021. Between August 14 and 20, it went through a week of a descending channel to wash out, and then leveraged positive news to pull up with a bullish candle to test (while also reaching a new high). The selling pressure is still heavy, and it has gone through a consolidation triangle to wash out again. Since August 13, there has been a significant net outflow of ETH (not referring to ETFs), but in the last three days, the net outflow has gradually decreased, and it has reached the end of the consolidation triangle. The day before yesterday saw a false breakout, and last night a false breakdown, and it is currently still oscillating within the triangle range. From my perspective, this does not look like the main force is escaping; this is a very clear continuation pattern. Unless it completely breaks down this triangle and falls below the 20-day low, creating a lower low, only then would I judge that this market has no short-term hope. Currently, my view is that after the triangle finishes consolidating, the next target for ETH will be between 5300 and 5700. Within this range, I will take profits in batches. (I will explain how the 5300-5700 price range was derived in detail in the small group). That's all, sharing from Lao Yu. For reference only.
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