ETH Short setup
ETH forming a bearish flag due to a number of reason.
1. It is sliding away from the Ascending channel and could start a fall down
2. AB=CD parallelogram bear flag
3. Triangle PBQ is Ascending Bearish Wedge which from which ETH has already broken downwards
4. Consolidation near the $355 horizontal resistance could knock it down.
5. Gold will go down soon, so will BTC and hence ETH too.
6. Dow Jones index is consolidating and is expected to go down, the panic will propagate to crypto world too.
Short targets are given on the Chart. Stop Loss - $371
1. It is sliding away from the Ascending channel and could start a fall down
2. AB=CD parallelogram bear flag
3. Triangle PBQ is Ascending Bearish Wedge which from which ETH has already broken downwards
4. Consolidation near the $355 horizontal resistance could knock it down.
5. Gold will go down soon, so will BTC and hence ETH too.
6. Dow Jones index is consolidating and is expected to go down, the panic will propagate to crypto world too.
Short targets are given on the Chart. Stop Loss - $371
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