elitebagholder
Short

Ethereum - Possible Danger Ahead

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
I recently posted a chart on Ethereum and it has now gone below 640 which is a really bearish sign for me.
Ethereum can see lower levels that I truly did not expect.
If you're wondering why I have changed the correction line from ATH on the fractal retrace, it's because that is the possibility I am leaning towards.
It could probably play out differently.
This is due to going below the 100 day EMA on the ETHBTC chart and also due to fundamental issues regarding ICOs.
I am also trying to factor in what happened a while back when Ethereum crossed the 100 day EMA in the ETHBTC chart.
I don't want to bearish on Ethereum but I think there could be further correction.
I have been wrong before so I don't really encourage you to depend only on this chart.
Ethereum can still also reverse now, at the 515 fib level, or at the 400 support.
You can use my chart for limit buy orders but keep in mind this is not financial advice and I have not been so accurate recently.

Thanks for looking and good luck to you!
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