Supply and Demand imbalance caused by a NEW Monthly Candlestick, upcoming G7 Summit on June 8 where Cryptocurrency will be on the Agenda prior to the G20 gathering later this month...
Regulators plan to implement RULES in July and many investors are likely hesitant to open positions in Crypto until further guidance
Those still holding onto ETH/BTC could swing price and create a new low prior to the New Moon Wednesday June 13 and by the end of this hour I'd expect Momentum to bring price closer to 615
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Also... GDAX (Coinbase Exchange) will be undergoing Scheduled Maintenance at the NEXT hourly candlestick (3:00 UTC)
This is interesting, food for thought! We shall see how it plays out.
ZacharyHogan
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@SluggishMoney, yes I am optimistic about the industry but forsee a short term bearish play :)
CryptoComes
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Hey, seems that ETH/USD has broken through the ascending trend line.
ZacharyHogan
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@CryptoComes, Vitalik was discussing "ETH at 420" in a recent presentation. Although it was a 'hypothetical' example, seems he is expecting price to go lower too!