Ethereum / BitcoinUpdated ETH Collapse in 3 hours?
Hello,
It seems to me there is no bottom if ETH falls below 0.011. The negative trend highlighted with red, is going to force it below that in a few hours. Its already been tested twice, and the negative trend lines did confirm that it wouldnt neccesarily fall below, but in a few hours the trend line will force it below, unless it breaks out before that.
If it breaks below 0.011 i see no bottom. There is psychological support around 0.01 perhaps, but there are no trend lines supporting it. So it will be very interesting to see what happens. I am ready to short in a few hours if the negative trend has not been broken.
It seems to me there is no bottom if ETH falls below 0.011. The negative trend highlighted with red, is going to force it below that in a few hours. Its already been tested twice, and the negative trend lines did confirm that it wouldnt neccesarily fall below, but in a few hours the trend line will force it below, unless it breaks out before that.
If it breaks below 0.011 i see no bottom. There is psychological support around 0.01 perhaps, but there are no trend lines supporting it. So it will be very interesting to see what happens. I am ready to short in a few hours if the negative trend has not been broken.
Note
So looks like ETH broke out. Congrats. I think crisis is averted for now.
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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.