Bearish pennant might take ethereum lower

Short

Ethereum / TetherUS (BINANCE:ETHUSDT)

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BINANCE:ETHUSDT Ethereum / TetherUS

Currently, ethereum is in a bearish pennant, which is a clear signal of an even further downtrend. Looking at bitcoin reinforces that idea. Personally, I short here, expecting a bear market bottom for ethereum around $700-800.

Commentaire:

If we grow above 1090 this idea becomes invalid

Commentaire:

Yesterday here in the comments I indicated that the breakout up can also be a fakeout. As an update indicated that we have to stay below 1090 for this. So far, this idea unfolding and a breakout down still seems like the most obvious scenario. I hope everyone appreciates the updates!

Commentaire:

We broke 1090, this idea became invalid

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