Bad news for ETH if it breaks down from this 12 hr triangle?

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Strong support shuld come at 300 however 265 is not out of the question
Comment: Went short on a limit buy under 395

This one surprises me a little, while I haven't been bullish on the ETH USD or BTC pairs for a while, others seemed to be getting very confident in ETH. I had almsot been convinced. I think it should be a quick and solid bounce when from ETH when the market rallies next. Will be taking off the short at 344 and going long.
Trade closed: target reached: Bitmex hit 344 and my position was closed, 1/3 of my position was closed at 371.5 when the first level of my profit protection stops was triggered prior to the price falling to a low of 344.
if ethereum go lower than 350 it will dissapear minning will not be profitable, no mining no transactions no coin.
@Karonte, mining wouldn't dissapear overnight, this isn't necessarily suggesting a sustained drop. This is just an observation also, but if it did happen I picture a LOT of buyers coming in at 300 and bouncing it straight back up over 350
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out