Etherium got rejected at 1200 the top of Symmetrical Triangle and new candle is also down now after rejection. It can retest 1200 - 1230 and after that it will down. Etherium can break triangle to downside at 1080 most properly and then it should hold its resistance of 1080 for further down.
Overall 1073 - 1292 is its moving area from last 16 days. Etherium should hold its main support of 1000 otherwise it can retest 700 area. Most of the big whales want to buy it at low price and over all market scenario is also bearish . Sellers will wait for some pump to enter in the market.
There could be fake pump to enter new sell positions and liquidate the buyers so read the chart and market very carefully. I am hoping that it can break its 1000 area very soon.
Weekly Chart
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Bear flag in weekly chart is going very fine as per plan and right now its showing more down. If you see the weekly chart then you can get idea that how much down it can go.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
Overall 1073 - 1292 is its moving area from last 16 days. Etherium should hold its main support of 1000 otherwise it can retest 700 area. Most of the big whales want to buy it at low price and over all market scenario is also bearish . Sellers will wait for some pump to enter in the market.
There could be fake pump to enter new sell positions and liquidate the buyers so read the chart and market very carefully. I am hoping that it can break its 1000 area very soon.
Weekly Chart
----------------
Bear flag in weekly chart is going very fine as per plan and right now its showing more down. If you see the weekly chart then you can get idea that how much down it can go.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!