ETH Ethereum looks like a possible drop!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Bulls need to break above 220 or it will drop back to 213
Target: 213


We've had some significant movement since then. Looks like $220 has been broken. What are your thoughts?
+1 Reply
muhammadabdullah Captainsmugglebutt
@Captainsmugglebutt, it did broke upward with huge amount of volume but it need to stay above 220$ alt coins are showing some good bullish signs but BTC need to break above 6500 and 6600 level. pennant formed.
Nice idea on ETHUSD and there may be potential gains as you have identified by going short. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first resistance at 222.91. It is a horizontal swing high resistance, 61.8%, 100% Fibonacci extension and a 61.8% Fibonacci retracement. Stochastic is approaching resistance and we might see a corresponding drop in price. If a corresponding drop does occur, we may want to take a look at the 209.17 support level. It is horizontal swing low support, 50% Fibonacci retracement and a 100% Fibonacci extension.

Please take a look at our idea and share with us what you think.

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