Currently ethereum retesting important bull trend line..the area of uncertainty entered...if ethereum doesn't go below my bearish price 350 ...it will continue it's bull run..previous dips to 320 occurs at these exact levels of 370-360 dollars.. movement of ethereum for next 2-3 months will be decided by this levels...
Guys what ever trade.. market is threatening due to covid positive for Donald trump...so don't go long for few days..anytime crash might happen already ETH dipped from 370 to 340.. still it could be devasting crash....it's totally my speculive idea be cautious on your trade..
The pink line represent the trend line and if that forms a descending triangle there would be a high probability that initiate a bear move towards 300
1. Retest 335 mark two more time
2 doesn't cross above trend line
In the graph I have rounded two points..the curves look similar but difference between two moves are..the above curve retested the resistance level..but it took downward path..
The below curve why it exploded up? The reason is after retest near the resistance it consolidated near the resistance that's a indicator of a bullish move..the inner circle below circled...
It's been already a bear signs..if it mirrors the decending traingle formed two days before.. potentially end up in a bear move hitting the support at 300 might end up hitting support at 280-250 levels