ETHUSD like other cryptocurrency has been in a recent downtrend and the structure for a continued move lower has just confirmed. The support level at $158.00 needed to hold desperately as a triple bottom, that was not the case. Now that price broke out below we expect a move into the next support of $125, retrace into $158 and move into $87.00 based purely on the structure. The volume on the break lower was increased but we want to see more sell volume come out on these swings to the downside. Based on a Fib extension price can move down to $87.00 before testing the $40.00 area. That is only if volume starts increasing dramatically as it did in September/October on the moves lower. OTHERWISE, if there is a rebound on strong volume through $160, we're headed for $210.
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