Ethereum is still unable to break through 2000 again, which indicates more likely a further decline. In general, the picture looks like a big flat from $1k to $2k. If the support at 1700 fails, the next target will be 1500 (trend line). Short @ 1900-2100, SL 2300, TP 900-1000.
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Shorted even more @ $2k. The current and future drop is mainly due to this news - 'ETH Foundation Sell $30 Million in Ethereum'. As a reminder, they have already sold 20,000 at $4,722 on Nov 11, 2021 and 35,053 at $3,280 on May 17, 2021. Usually such large sales were before the market dump. I think It's quite obvious that the price of $2,000 is the peak for the current year.
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ETH just broke 1800 support, now it's very strong resistance. I think it won't take long before we break support at 1700. The next support will be around 1400-1500, but we won't stay there for too long...
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the last support line is almost broken, $1700 is just around the corner...
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Wild, but quite expected move. $1700 support failed and on the same day we reached $1500. Now the road to $1k is completely open. Coupled with all the negative news (both current and future), this is a matter of 2-3 months.
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Shorted a little more at $1700. The recent Grayscale news caused ETH to rise by almost $100, which is a good opportunity to short again, since the price above $1700 is nothing more than a false breakout. The price will return to the level of $1500-1600, from where it will eventually fall to $1000-1200.
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Avg. out my short position, moved SL to $2200. First TP will now be at the level of $1500
