Ethereum Bear Trend to Continue until mid 200s

KRAKEN:ETHUSD   Ethereum / U.S. Dollar
Rising wedges galore! I think this is a classic example of sharp price fluctuation and rising wedges which follow them. Bulls were not able to push the channel upward and we had a clear M pattern double top at 400. I expect the bear trend to continue until the rising wedge profit target of roughly 235-250. Let's see what happens.
Trade active: Trade up 15% so far, pattern analysis shows eth bottoming at 235 to 250 at first with a recovery run to retest 280 or 300. After that, with confirmation from China, I believe it will be a crypto-wide sell off. I expect levels of support at:


Good luck out there, never HODL.
Trade closed: target reached: Closed at 224. Waiting for Another short opportunity or a buy opportunity. Right now, it is just too volatile to make smart decisions.
Try $50 -- SELL!! IMO, People are being naive! You could literally lose everything. The Chinese announcement should have grabbed your attention, and you should have sold and gotten your money out. Next will be U.S. and then the entire market will tank back to where it started. This is why you cant get greedy. This is basically just a concept that the government doesn't want to see grow any larger. Be smart, forget charts and take your profits.

Very well written article in the The Verge on this topic.

Bubble is popping -- POP!
oshin11 BigD2017
@BigD2017, This was posted before the China news, chill fudster. Take it easy on the pills. I'll update soon.
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