ETH getting ready to drop to some massive support
Updated
Sure, there is upside to 1780 and it could keep climbing, but I think we're going to see it drop before that occurs. There is a support trend heading in the bearish direction
Then you have two really weak resistance lines developing on short term charts. Which makes me think it's about to see a drop off of those and then head to the bearish support trend.
This is the best part because a lot of trends are leading to the same spot, which is a massive support trend climbing in the bullish direction.
Personally, I see a fast movement down and then the next movement taking the price to 1745-1780 before coming back down to test 1690 again.
Price target is more important, the 1608 target, the 1680 rejection, and the 1700+ line.
I'll likely keep the updated price targets for this chart on my site, but otherwise, you'll need a new chart should the 1608 line fail or should the green trend break, which is a BIG time exit point trigger.
Then you have two really weak resistance lines developing on short term charts. Which makes me think it's about to see a drop off of those and then head to the bearish support trend.
This is the best part because a lot of trends are leading to the same spot, which is a massive support trend climbing in the bullish direction.
Personally, I see a fast movement down and then the next movement taking the price to 1745-1780 before coming back down to test 1690 again.
Price target is more important, the 1608 target, the 1680 rejection, and the 1700+ line.
I'll likely keep the updated price targets for this chart on my site, but otherwise, you'll need a new chart should the 1608 line fail or should the green trend break, which is a BIG time exit point trigger.
Note
So far, we're getting the expected movement. Again, it can slip under this trend, but it comes from the daily chart, so if the price dips below but closes over, we're expecting bullish movement still.Note
Trend break means we're exiting on the bounce back. However, I'm not sure I like this chart.Note
We got our move, My bad if you were using this chart, I didn't think the trend break was going to take it 1550 on this break. However, we are back above big daddy support line, and we saw two wicks reject around the same line.
BE READY FOR CONFIRMATION. Could pump as high as 2k, if not higher.
Note
BIG MOVEMENT, There is more upside, but it's starting to get to that pull profits before you lose them zone. You'll likely need to find a new chart as this one is overextended on the marks.
Strong AF Trend still remains a point of stability.
Note
Okay, If you're still following this idea. YOU NEED A NEW CHART ASAP. I don't quite have one ready but I will eventually.
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Venmo: @nicktussing
Donations appreciated, NOT AT ALL REQUIRED OR EXPECTED.
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