Ethereum (ETH), Fractal indicating major drop incoming!

As many have noticed, we broke down from a major rising wedge yesterday on Ethereum. That along with the loss in bull momentum could mean we will have a similar outcome as shown in the fractal here.

Commento:

ETH testing the 4hr 50EMA for the third time now. Needs to remain above it to stay short term bullish.

Trade attivo:

And there we go! Dropped perfectly as predicted, very nice 10% trade from entry. This has hit my first TP at $139.

Commento:

Update on Fractal idea, although the drop can usually be predicted from historic patterns as shown in this idea, the correction and descent rarely matches to a previous fractal therefore I would not rely on this to trade.

Trade chiuso: obiettivo raggiunto:

Trade closed.
TP 1: $125
TP 2: $121