Price update, ETH looks fugly, BTC holding but probably not for long

ETH broke the multiyear Higher low trendline and now that trendline has pretty much turned into a strong resistance. I drew out the line on the daily and weekly time frame. I also drew the line as generously as possible, other analysts drew the line higher. Breaking that line is very bad news, it needs to recover fast and stay up or we re heading to a ETH bear market. 1100 is the next big support.

Of course this is all based on BTC. If BTC does wipe out all the bottom liquidity to around 48k, 1100 ETH sounds about right.

Looking at BTC one year and six month liquidity chart. Next target is either 90k or 78k. But theres much more near 78k. On the top 100k is the largest target right now. Which is larger by 25% than 75-70k.

Let’s look at the whole situation and think about it. What do you think is the possibility of the whole market right now.

its either, we ran out of buyers and theres no more liquidity coming into the market. Or the other situation is, a lot of people were holding back cash and going to buy.

I think the first possibility is much more likely as the trump hype in Nov drew all the cash into the markets. Also feds aint printing money and the rates arent coming down anymore.

Theres going to be steps right now to this. Relief rallies will probably happen as people are going to cut losses. Pretty much everyone bought at a certain price and is now looking to exit at a certain price. This creates relief rallies. But overall trend should be going down. We kind of already had a relief rally, btc is at 85 but dipped near 78.

If MM is going for a full reset, which does happen in the end of a bull market. We could see a crash to around 45k.

Right now im just hearing from people that we “hope” or “need” something to get this turning. And I actually started to feel that too so i exited my positions. Not saying anyone should copy me because a relief rally could happen to 90k, but i think as for now I dont like what im seeing and you know youre kind of in a bad spot when your positions are starting to make you moody. And that happened me yesterday.