Please observe the triangle marked between the flags. This will give a rough guidance about what to expect in terms of ETH price after the next 48 hours... very crucial period now.
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The price seems to be moving within this triangle range. Also keep reviewing the smaller triangles that form within this pattern. Lots of Elliot Waves may be completed until then, which may provide other short term trading oppurtunities.
Best regards and happy trading :)
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ETh fell below the triangle, but it looks like there is excellent support at 250 level, which will likely push the prices upwards now. Also with news like BTCC/DAX listing ETH in the week starting from the 3rd of July, it is likely that ETH may cross the upper resistance as well. Once that resistance line is crossed, it may aim for new ATH over the upcoming days or weeks.
Wishing everyone all the best :)
Trade closed: stop reached
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Chart irrelevant now as triangle was broken yesterday and now is following another ascending support line.
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umair105
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I somehow agree with this situation and I also wants to add that this was expected and as per my analysis on my trend chart few days ago shows that it will rebound by 7-9th July.
UnknownUnicorn995432
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@umair105, Thank you. I completely agree with your analysis and your chart. I also think that we may continue to see the ETH price bounce between this triangle for now. 7th-9th July breakout is likely as around that time the spread will be suqeezed. Best regards, Kashif
umair105
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@doctorkesh, Yes hoping to see rebound now, bullish trend is upcoming
UnknownUnicorn995432
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@umair105, we are being played with..... whales having fun ;)
umair105
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@doctorkesh, I believe we are on track, it's buy time , since its weekend, it was suppose to go down as expected, I am hoping Monday is the key day for upward trend. Finger crossed
UnknownUnicorn995432
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@umair105, do you think it will fall down more ornis this it?
umair105
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@doctorkesh, I can see as low as 220's till Sunday, it will go up