Where We Should Bounce If ETH Breaks Its' Previous Low
ETH is looking rough in terms of how much it has crashed, but that means long term buy and hodl opportunities are here.
If we break the previous low at $167.32, then we will most likely fall to the $137-135 area.
This area has a lot of support in terms of fib, structural support from mid july of 2017 and VBP support.
If bitcoin breaks down out of the long term descending triangle then things will be a lot uglier. Right now, roughly $57XX (current yearly low) in what we have to stay above to be more
positive on the bullish side.
If we break the previous low at $167.32, then we will most likely fall to the $137-135 area.
This area has a lot of support in terms of fib, structural support from mid july of 2017 and VBP support.
If bitcoin breaks down out of the long term descending triangle then things will be a lot uglier. Right now, roughly $57XX (current yearly low) in what we have to stay above to be more
positive on the bullish side.
Commento:
Price has started dumping again, still expecting a bounce in the 135-137 range.