abdullatrader
Short

Ethereum looks BEARISH

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Hello traders,

Hope you had a good weekend!
As you can see Ethereum has formed a bearish head&shoulders pattern and the targets are set to $260, then $230. Although I its looks very bearish to me in the medium term, however, I will post an idea later on.

If Ethereum breaks $320, then my outlook for it will change from Bearish to Natural.




Appreciate your likes and comments, and please feel free to share your thoughts!


- Abdulla
Comment: ACTIVE! - Lets wait for a confirmation candle (close below trendline)
Comment: Down we go!
Comment: Strong reversal, if ETH breaks $320, then the structure has failed to reach its full target.

Comments

@AAlFadhala Please update ETC/USDT ? Hu hu
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Hello @AAlFadhala and thank you for your trade perspective and chart insights! I have been watching your ideas for a couple of weeks now, including the ETH bearish movement you predicted. It seems that the movement has reversed and ETH price is increasing, although I doubt that the coin has enough support at these levels. What do you think are the chances of ETH plunging to $250-260 in the next 2 days? (considering that BTC will most likely take a hit after the hardfork)
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Ive been following you for a while and i like the way you see the charts, i have to ask tho, could you possibly have had the resistance wrong by 7-10 dollars and its actually sitting on its resistance line now? It seems to keep bouncing off 282/283. Thanks
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good job brother
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Thanks for this...can't wait to get some discount ETH!!!
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Great analysis! Interested in your idea. Trying to determine the bottom for this run.
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@sjavera, Thanks
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Thanks @AAlFadhala for your insight. Shorting now from 285, let's hope it will continue to go down. Are 260/230 fib. retracement lines?
Reply
@separaet, 260 is 61.8% fibo and 230 is 100% of the 'head' price height.
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I love your analysis by the way! Thank you for you insights.
Reply
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