Smoak
Short

Ethereum Headed to $492

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
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Ethereum has broken one trendline and appears to be headed to the next one down which also aligns with a support. I would be surprised if Ethereum did not test this area.
Mar 18
Comment: The support I mentioned at the 492 level didn't do anything to stop this free fall. I'll be watching the 395 area closely followed by the 270 level. I would expect some bounce off of these levels but it may be a temporary one.
All the coins are trying to stage an inverse head and shoulders reversal (seen on smaller time frames) but every attempt to break the neckline has been met with a serious rejection. Holding my short positions for now.
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