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History keeps repeating itself, and ETH is no exception!
The current market is just brewing the second descending triangle; today’s price of 2300 might be your future unreachable high.
The bottom of this bear market will definitely not be at 1740; I also will not consider deploying spot at this level.
Based on the decline of the previous descending triangle, the bottom is likely to form around 1300.
The cycle duration is about 25 days; multiple traders, please stay protected.
If there’s a rally on Monday, I will add to my short positions at 2350-2400.