04.04.2018
ETH - Selling off in today's market, has definitely triggered the intraday breakout/breakdown bears !
Price initially began to break down at around 4am this morning, after failing to trade/close above the 200ema and was rejected for 2 bars, before entering a consolidation & flag pattern !!!! Price continued to break down further this morning.after failing to hold the equidistant price channel support and ascending trendline support from the swing low around $343.
Normally we expect price to exit / selloff aggressively after breaking down from the flag pattern - which it has continued to do...
The question is: where is Ethereum heading next?
Price is currently trading around 366, with immediate support @ 345. The support level dates back to previous resistance on 15.10.2017, IF Price does fail to hold at thie support level and find traders to lift the offers, then we could see further DS to test $273, $186 respectively......
Info@intelligenttradingacademy.com
Cryptocurrencies | FX | Equities | Indices
ETH - Selling off in today's market, has definitely triggered the intraday breakout/breakdown bears !
Price initially began to break down at around 4am this morning, after failing to trade/close above the 200ema and was rejected for 2 bars, before entering a consolidation & flag pattern !!!! Price continued to break down further this morning.after failing to hold the equidistant price channel support and ascending trendline support from the swing low around $343.
Normally we expect price to exit / selloff aggressively after breaking down from the flag pattern - which it has continued to do...
The question is: where is Ethereum heading next?
Price is currently trading around 366, with immediate support @ 345. The support level dates back to previous resistance on 15.10.2017, IF Price does fail to hold at thie support level and find traders to lift the offers, then we could see further DS to test $273, $186 respectively......
Info@intelligenttradingacademy.com
Cryptocurrencies | FX | Equities | Indices