ETH currently looks to be completing a bearish symmetrical triangle wave pattern. There was an event that occurred a couple of days ago that caused ETH to rise outside of the triangle but this did not happen on the ETHKRW pairs. This more than likely caused people to jump into the market prematurely. Since ETHKRW has the most volume I trust that chart more.
The widest distance of the triangle is a low of 282 to the top of the triangle at 347. If the triangle breaks down around 288 we have a price target of 223. (288-(347-282))
Constructive comments welcome.
The widest distance of the triangle is a low of 282 to the top of the triangle at 347. If the triangle breaks down around 288 we have a price target of 223. (288-(347-282))
Constructive comments welcome.
Trade closed: target reached:
Reached Target. I looks like it will fall further now since it is under the fib for a full 100% retrace to 202
