gummybadger
Short

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.
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@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
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