Ethereum - Drop to $144 Possible

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
This is more accurate than my previous chart where I predicted a $12 price target.

All Fib levels match with support or resistance quite accurately on this chart.

The drop Ethereum can experience could be from neckline to 1.618 level on the condition we break the 400 support, which is a key level.

I am using a H&S pattern in conjunction with Fibonacci levels, because if we use the H&S pattern in a straightforward way we get Ethereum below 0.

If support holds convincingly a rally to 636 can happen. I find that unlikely though, but possible. It would depend how Ethereum performs at the 400 level.

Good luck.
I agree that 400 is a key level; it is also a retest of the november 2017 breakout of the ascending triangle. Honestly, such a retest after a triangle breakout is quite common, so for now I still believe that ETHUSD will hold support (although momentarily it might dip down there into the 300s range). If that is the case, ETHUSD may actually become very bullish for the rest of 2018.
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