Big Dump coming in ETH/USD

BITTREX:ETHUSD   Ethereum / U.S. Dollar
The chart speaks for itself, great low risk high gain short setup in this crypto, only a move over 330 would cancel this setup but the ods are much higher of a large breakdown as shown in the chart.
Setup looks bearish indeed but maybe someone could give some more explanation on why Ethereum would be dumped. Something going on? Bad news? Fundamentals? Thx!
+3 Reply
@TimDeleeuw, I would assume it is due to ICOs cashing out as ERC20 tokens are backed by ethereum. Possibly the time of ICOs bubble burst.
+1 Reply
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