Ethereum fake breakdown?
This huge pennant that both ETH and BTc broke down out of, could be a fake breakdown. It seems ETH is reacting much better then BTC at the moment. Although it has found itself back inside the pattern, the ride isn’t over just yet! It is very possible, it drops for 1 more low and if it can manage to hold the 562.66$ level, then we could bounce and still have a breakout. Watch for support of this area, and if it down hold support your pattern resistance breakout point is now, 582.11!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.