Hello again everyone. As I predicted in my last chart I posted about a day ago, the symmetrical triangle with the continuation with the down trend was confirmed with heavy volume selling which broke down the triangle and put
ETHUSD
into a free fall situation. Of course there will be a few retracements but from my analysis I believe we are to drop down to 350 down to 340 range (approx. around that area) minimum before we are to make a bounce back to retest. As you can see I have drawn another short term down trend line in bright green and calculated the price objective measurement as depicted in the dotted yellow line and it seems there should be a strong bounce near the 350-340 range.
Once again thanks for your time, any questions comments, concerns, or short speeches please feel free to comment. If you like my short and sweet analysis please feel free to like I would be much appreciated. Thanks :D
ETHUSD
into a free fall situation. Of course there will be a few retracements but from my analysis I believe we are to drop down to 350 down to 340 range (approx. around that area) minimum before we are to make a bounce back to retest. As you can see I have drawn another short term down trend line in bright green and calculated the price objective measurement as depicted in the dotted yellow line and it seems there should be a strong bounce near the 350-340 range. Once again thanks for your time, any questions comments, concerns, or short speeches please feel free to comment. If you like my short and sweet analysis please feel free to like I would be much appreciated. Thanks :D
Comment:
Sorry, forgot to mention, there is still an opportunity for ETH to stay within a trendless market range as shown by the white dotted arrow line at 450 since that is supposed to be a strong support line, I would watch this pretty closely, if it bounces from that line there is a strong chance we will be in a consolidation phase and if that occurs would definitely still have an opportunity to retest the large trend shown in blue. If not then we should expect to drop to the sub 400 range and lower.
Comment:
We have dropped to range predicted around 360's bounce and another symmetrical triangle forming in anticipation for another drop to perhaps 320-300 range... stay tuned as we search for the bottom!