ETHUSD rising wedge signals another tumble

Good short opportunity should ETH break downwards from this rising wedge.

Target is 500 in line with previous 0.786 prediction from January

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Although ETH has already tested this support, if it can't break above the 20 MA it's going down.

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Everything is saying down, but the price is sticking. BTC is in the same position surprise, surprise and I guess many coins are waiting on him. Just the way it is

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Shorts got REKT. Bitcoin decided to breakout after hugging the bottom of a triangle for half the night and all USD markets are up. Way of the coin.

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If BTC forms a double top, then we're still on for a market reversal. As many are pointing out there is a massive head and shoulders forming in ETH.

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BTC broke out and is going up so this trade is now INVALID. I am however shorting ETHBTC down to 0.5 to 0.6 level. See Excavo's TA for details.

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Finally the moment looks like it's arrived. BTC tumbles and ETH drops down from its wedge. It's now on the 50 dMA. If it loses support here it's going to retest the 200 dMA at around 550 USD. Happy days!

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I'm feeling that either today or tomorrow is the day for cheap ethereum. Can't give you a better target unfortunately, but 650 should be doable and in the grand scheme of things a real bargain.

RealMcafee

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