Ethereum forming bearish butterfly around 50fib resist #ETHBTC

Bearish butterfly forming below 50fib retracement of the drop 0.123-0.55784
There's also RSI bearish divergence in 1D
Price currently supported by 38.2fib retrace of of the same drop

If eth breaks below the 38.2fib support at 0.0817 then,
we can expect it to drop to the region around 23.6fib of the drop 0.123-0.55784, 50fib of recent price spike from 0.0539-0.08543 & 50DMA.
This region will be around 0.0697-0.0718

Target 1- 127% retrace of CD leg: 0.075
Target 2- 0.0697-0.0718

https://www.tradingview.com/chart/2jHyamBl/#

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#ETH -3.48% drop after the reversal at D leg of Bearish #Butterfly just below 50fib.
#ETHEREUM will test support level at 0.0804sats

If the support at 0.0804 breaks with confirmation then
T1- 0.075-0.0751
T2- 0.0697-0.0718

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#ETH update: -9.7% drop after forming the bearish #butterfly around 50fib resistance & consequently breaking support at 0.0804.

Target 1 met.

Now #ETHEREUM is trading below the 50DMA at 0.0747,

if today's closing is below 50DMA then,Target 2 will be valid.

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Both Targets achieved in 10 days.

Ethereum is now in the buy zone: 0.0697-0.0718

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#ETHEREUM +7% up, since hitting buy zone. Now showing Bearish divergence in stoch and rsi in lower time frames, around 23.6fib region, short term retracement can be expected, till 0.075 level support.