ETH closes December with a monthly bearish Engulfing. A similar combo happened two times before, followed by a multi-month average decline of 65%. Will this time be different? Perhaps it will – the supporting indicators are stronger this time. For a reference – 65% off the top will be $1700.
From yesterday’s analysis: “If ETH closes tomorrow below $3915.00 (Coinbase price), it will form a bearish Engulfing on the monthly frame. If so, get ready for at least a month of lower prices.”
Tune up for the Yearly Review on #ETH.