Short

Ethereum (ETH), Fractal indicating major drop incoming!

Updated

As many have noticed, we broke down from a major rising wedge yesterday on Ethereum. That along with the loss in bull momentum could mean we will have a similar outcome as shown in the fractal here.

Note

ETH testing the 4hr 50EMA for the third time now. Needs to remain above it to stay short term bullish.

Trade active

And there we go! Dropped perfectly as predicted, very nice 10% trade from entry. This has hit my first TP at $139.

Note

Update on Fractal idea, although the drop can usually be predicted from historic patterns as shown in this idea, the correction and descent rarely matches to a previous fractal therefore I would not rely on this to trade.

Trade closed: target reached

Trade closed.
TP 1: $125
TP 2: $121

TheCryptoRuler

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