ETH is on its way to its previous low $168!!!
Hi everyone,
I realize this looks scary, but its what the chart is currently telling us. We just dropped from a big channel/bear flag (marked in blue) and we are still on a bear market. I think if BTC also drops from its bear flag (dropping below 6300), $120 ETH is a possible scenario. But I think the most likely scenario is a drop to the previous low 168.
We are currently inside another bear flag (marked in red) that will take us to the 180s if it breaks bearish. I think right now is a great set up for a short entry around 222 and 226. Another entry would be at a bear break of the smaller bear flag (marked in red).
A close above 260 would invalidate this scenario.
Feel free to share your thoughts and ideas in the comment section.
This is PureStructureNoBS giving you clear entry points and market direction; instead of drawing two lines, one going up and one going down, like half the top contributors in TradingView :)
Cheers
I realize this looks scary, but its what the chart is currently telling us. We just dropped from a big channel/bear flag (marked in blue) and we are still on a bear market. I think if BTC also drops from its bear flag (dropping below 6300), $120 ETH is a possible scenario. But I think the most likely scenario is a drop to the previous low 168.
We are currently inside another bear flag (marked in red) that will take us to the 180s if it breaks bearish. I think right now is a great set up for a short entry around 222 and 226. Another entry would be at a bear break of the smaller bear flag (marked in red).
A close above 260 would invalidate this scenario.
Feel free to share your thoughts and ideas in the comment section.
This is PureStructureNoBS giving you clear entry points and market direction; instead of drawing two lines, one going up and one going down, like half the top contributors in TradingView :)
Cheers
Transaction en cours:
This morphed into a triangle pattern that also broke bearish. Here is the update:
Trade fermée: cible de profit atteinte:
Took a bit longer than expected. But sure enough
