ETH Down 65% — Capitulation Bottom or One Final Flush?Ethereum all time history indexINDEX:ETHUSDSiDecIs the Worst Behind Us? Over the last 180 days, ETH dropped from $4,956 to $1,744! A clean -65% correction. We saw liquidation cascades, forced selling, and broad weakness across crypto. So now the real question: Is this the bottom or is the market preparing another leg down into deeper lows? Let’s walk through it. Where We Are Structurally Price retraced deep into the 0.786 and 0.886 Fibonacci levels of the move from $1,384 → $4,956. That’s a serious reversal zone. We got a sharp reaction from $1,752 which technically was a very solid first long entry. However, from an Elliott Wave perspective, there’s still a chance that a 5th wave down hasn’t fully completed yet. That doesn’t mean we crash. It just means we stay patient and strategic. Long Setup Plan Scenario 1 — Strength From Here If ETH: Holds above $1,750 Reclaims short-term structure Breaks recent lower highs Then a move toward $2,500–$2,600 becomes realistic. Scenario 2 — One More Flush (Preferred) Personally, I wouldn’t mind seeing one more push lower into: $1,840 → $1,500 zone Why that area? Because it lines up with: Anchored VWAP cluster around $1,560–$1,450 Liquidity resting Psychological capitulation level That’s where I’d ladder into positions (DCA), keeping size for volatility spikes. Take profit target: $2,500–$2,750 Depending on entries, that’s roughly 40–60% upside. Resistance Area to Watch Major friction sits between: $2,623 prior swing low Golden Pocket Anchored VWAP resistance POC Imbalance That $2,500–$2,750 area won’t break easily on first attempt. Expect reaction there. Quick Educational Insight Deep retracements like 0.786 and 0.886 often mark: Final liquidation sweeps Emotional exhaustion Late short entries Most retail traders focus on shallow pullbacks. But deeper retracements are where risk-reward becomes interesting if structure confirms. The key isn’t guessing the bottom. It’s building a plan before momentum shifts. Bitcoin Context Bitcoin looks structurally similar. If BTC puts in one more downside push, it would likely align with ETH completing a final 5th wave as well. Correlation matters here. Big Picture We’re no longer in the “easy short” environment. We’re entering the “prepare for shift” phase. This isn’t about catching knives. It’s about: Planning entries Defining invalidation Scaling responsibly Letting structure confirm The worst panic phase may be behind us. Now we watch for transition. _________________________________ 💬 If you found this helpful, drop a like and comment!