Ether has confirmed the head and shoulder and broke the neck line. A push down to 600 seems to be just a matter of time. The real question is whether or not this ABCD pattern
is going to hold true. At this point, I think it is but I don't have a crystal ball so we will see. Besides the technical aspects of ether itself going to 400, if we look at the correlation with how it's been going down with BTC
, it seems that it's not out of the cards at all if BTC
pushes down to 6k which also seems very likely.
1st martingale is active at just above this 700 level. I have buys stacked down to 400 in case of a large push down. I will be looking for a bounce up from this 600 level to get out of these initial positions at 620 and 700 for continuation to the downside.
I outlined some of the levels and possibilities that we could see here going forward.
Trade safe everyone.
Identifying the top -
identifying the H&S