I love log charts, but I'm starting to see them as rose tinted spectacles. They only really tell you what you want to see. This linear stuff is way more scary.
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In terms of the last bull run from Nov 2017 to Jan 2018, we've already retraced 78 % on ETHUSD. Now looking at the entire cycle from late 2016 I think we haven't quite got to the 78 % mark yet, but I think we will and I expect that we'll go below it. Assuming this correction is a massive market correction like 2011 and end 2013, we can expect something over 80 %. In my opinion we'll write off all of the last bull run and dip below the last consolidation level before bouncing back and consolidating at that same level I just mentioned. That means around 300 USD with a possible dip to 200 USD. Remember that when Bitcoin reached over 1000 USD it crashed back down to 170 USD.
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Is the correction over? This week will provide the answer!
