tcormier321

ETH - repeat breakout, or correction imminent

COINBASE:ETHUSD   Ethereum / U.S. Dollar
This is a difficult trade to evaluate. On one hand it could be a bear flag before the market continues down. On the other, we could be seeing divergence on the RSI and may continue higher. But it is resembling the last activity before ETH rallied to a new ATH .

If ETH breaks above the downward trendline of 1090, look for profits around 1200 as the longer term trend is challenged. But a breakdown below 1000 could see another drop into the 840-860 range.

Longer term traders could see this as a decent, but not great time to make a move for substantial profits IF the pattern repeats. Tight stop losses are necessary with this trade.
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