BITFINEX:ETHUSD   Ethereum / U.S. Dollar
2538 16
Hi All,

ETH is pretty much following the direction of its big brother BTC . However, you can see the previous 4hr candle, ETH has surged to right on the 0.236 retrace @ $403.79 and got hit in the face, forming a huge wick on the candle. It signifies that the sellers were able to push the price down significantly. If you are going long, that's certainly not a good sign to see.

If EMA20 does not hold, $342 will probably be the next stop for ETH.

If you like my TA, please don’t forget to "Like" :)

Taiwan Bear

Please note this post is provided for informational purpose only. It is not a financial advice to buy/sell.

Some tips for you:
- Set up an entry/exit strategy for every trade, with the ideal risk/reward ratio (2+)
- Understand that every trade carries a risk, and don’t expect you can make profits from every trade
Comment: ETH now overbought + double top. Expect to drop soon.

Comment: Updated TA:

Hi Mr. Bear,
Do you still think there are significant probability for BTC to go down to the low 5k or high 4k?
There seems to be a pretty strong resistance around 6.5k.
Thank you
@Tubeman, Just posted a new TA on BTC :)
even if BTC drops down more, do you think we would even see a sub 300 ETH?
Taiwan_Bear BrandonJohnson
@BrandonJohnson, I am expecting ETH to drop down to $241 - 257
+2 Reply
BrandonJohnson Taiwan_Bear
@Taiwan_Bear, woah, way to ruin my day. ha =p
Taiwan_Bear BrandonJohnson
@BrandonJohnson, .....I am not always right. I am just saying what I see from the pattern.

@vinny401, Sorry, I think I overlooked your comment. Next time if I don't reply, please PM me.
vinny401 Taiwan_Bear
@Taiwan_Bear, No prob. You're TA is phenomenal. Appreciate you sharing your TA
+1 Reply
Ignore the news, listen to the huge whale that's squeeze the hell out of bitfinex shorters.
+2 Reply
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