quantguy

Ethereum Breakout or Reversal??

Long
BITSTAMP:ETHUSD   Ethereum
Ethereum looks like it has formed a double top at $1821. Although we may be seeing a bull wedge forming as well. It really depends on what ETH does around $1750, a technical and psychological level. For now, it seems like ETH is content between $1750 and $1821, which is a very narrow range for ETH. If ETH does break down, we could span the vacuum zone all the way down to $1547, though it is likely we will see some support at one of those Fibonacci levels below like $1695, $1653, or $1623.

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