Yesterday, following bitcoin's lead, Ethereum took also a hit and dropped hard.
This drop cleared the rising wedge support, a trend line that kept the price elevated for a 100% gain.
At this point, this break is confirmed and 1800 is extremely strong resistance.
As in the Bitcoin case, rallies should be sold and, from a technical perspective, ETH could drop to 1k target of the pattern.
EthUsd back above 1.8 would negate this scenario
This drop cleared the rising wedge support, a trend line that kept the price elevated for a 100% gain.
At this point, this break is confirmed and 1800 is extremely strong resistance.
As in the Bitcoin case, rallies should be sold and, from a technical perspective, ETH could drop to 1k target of the pattern.
EthUsd back above 1.8 would negate this scenario
Заметка
This analysis needs and update, i hope this you will read.1. The sell zone from the chart is 1800, so...
2. I said "IN MY OPINION" and "IT CAN", in your opinion can do whatever and go to the moon.
3. I don t hold crypto, i speculate
4. I have a plan and a stop loss for every trade. So if i sell at 1800 i will not remain with a losing trade and idea if it goes back above 2k
5. If i sell at 1800 and is see that is dropping but hold 1400 again, I exit the trade.
6. Chill guys, may be I m wrong, for sure AT LEAST I TAKE THIS INTO CONSIDERATION WHEN I TRADE, i see most of you don t even consider the scenario when crypto will drop...
Hope is clear now, and again, at 1800 i will be short with SL above 2k
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