MagicPoopCannon

Ethereum Reverses With The Market! (ETH)

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Hi friends! Welcome to this update analysis on Ethereum! Let's get it! Looking at the four hour chart, you can see that ETH has rallied above the downtrend channel (in blue) but it's now beginning to roll back over to the downside. From here, ETH should return to the top of the downtrend channel , as it converges with the 20 EMA and the 78.6% retrace, to test that level for support. Since all of those levels are converging in the same area, it will be a critical zone to watch. If ETH begins to surpass that area to the downside, it would be indicative of a failed breakout, and that would be hella bearish . However, if ETH (more importantly BTC             ) posts a hold there, that would essentially be the market confirming the breakout above the downtrend channel . So, a hold would be bullish and a breakdown will be bearish . For educational purposes, if you want to trade this, you can wait for either setup to emerge, and buy a hold or sell a breakdown.

I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

-JD-
What about your forecast for death Etereum man you may take wrong decisions and your reputation goes like the deep corrections of the whole crypto market the only difference between your reputation and crypto is that Crypto goes bullish but your reputation goes bearish I'm watching you from a long time and I think that your profile picture is exactly what you are Ethereum is death, Bitcoin is death, EOS resistance is strong and etc ... You maybe do not understand Blockchain actually do you even have a real account or you play it like a casino?
Reply
I'm up since 3 days ago
+2 Reply
Still well inside the channel on log chart
+7 Reply
Retraces not reverses.

Reply
mikeownow CryptoWildWest
Yo this chart isn't even up to date bro
+1 Reply
Thanks for the update man, I am glad I follow your work.
+4 Reply
Thanks Man
+2 Reply
"hella" someone is from California.
+5 Reply
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