Farcaster

$ETH Monthly chart | Macro Perspective

I believe this mid-term correction is over. We took out the Aug-Oct 2023 lows, printed a giant reversal candle and held the mid line of the Channel

The bottom is in and we're gonna have a good mid-term bounce 📈

This can be a Dead Cat Bounce or a bullish Rally to a new ATH, but given the weakness of $ETH this cycle and the fact that there're only 7 months left to the cycle, I'm leaning towards the dead cat bounce scenario. 
(read my 🧵 about $ETH and its macro structure)

So in the next few months I'm expecting a good rally: $ETH & its ecosystem will bounce. My first target is $2500 🎯 

📍 $2700-3200 is supposed to be a Rejection Zone (lower high) 🔨

👉 To be fully bullish and expect new highs we need to break through that Zone and break out of the Channel