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CloutXGod1996
May 19, 2021 8:46 PM

ETHUSD - Careful trading, potential for lower lows 

Ethereum / DollarBitfinex

Description

ETHUSD broke out of the bottom of the falling wedge for a giant dump. On the bounce, ETH has now rejected off bottom of the falling wedge indicating it has become resistance. Although we are already down heavily, it is possible that this selling pressure continues given the LTF bullish retracement was rejected. Tread carefully

Comment

Needless to say eth did indeed make lower lows, I expect the bottom of the wedge that was broken will likely flip to resistance
Comments
CloutXGod1996
Unfortunately my worst case scenario has played out and we have dumped to lower lows
CloutXGod1996
Currently testing the 2900 resistance wedge, could be out of the woods for now let's see
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