ETH is currently inside a large channel and just broke down out of a small rising channel. Price bounced off $699 in a dark cloud cover bearish reversal pattern. The price will either fall to $620 or drop all the way to $560. After that, price should bounce back up for large profits. Taking a long position at that price level will be low risk, which is always good.
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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.